A billion is a huge number, regardless of how you view it.
A billion pounds, a billion people – or in the case of AIM-listed Audioboom Group – a billion advertising impressions in just one month.
Following the implementation of new software on its podcasting platform, Audioboom achieved just that in October, netting over one billion monthly advertising impressions for the first time.
Audioboom announced the achievement on Thursday, solidifying the firm’s spot among AIM’s top risers this week.
Having created the 1.01 billion impressions, which were subsequently sold on to brands seeking exposure to its 38 million unique listeners, Audioboom also updated that October had been its best month of the year in terms of revenue.
Following the implementation of new software on its podcasting platform, Audioboom achieved just that in October, netting over one billion monthly advertising impressions for the first time
‘(This) highlights the scale that we are developing,’ chief executive Stuart Last commented.
Given the unique software that updates ads on back-catalogue content, Audioboom also hinted 2024 could bring a record-breaking performance, after a return to topline growth this year.
The shares jumped over 11% to 151p by the end of the week.
Elsewhere in the digital space, Sopheon became the latest UK tech firm to embrace the deep pockets of US investors.
Wellspring’s offer was a tasty 88% premium to Sopheon’s weighted average share price; shares duly jumped 85% following the announcement.
Zoo Digital was also on a rip, surging 26% throughout the week as the provider of end-to-end cloud-based localisation and media services announced a strategic shift in India.
Zoo Digital suffered at the hands of Hollywood writers’ strikes recently, prompting slashed forecasts in September, but news of its new Chennai production facility appears to have galvanised shareholders.
Speaking of strategic shifts, Hydrogen Utopia International’s stock took off like a rocket this week, adding more than 40% on the junior market.
Its rally came off the back of a bullish research report into the group’s 49% stake acquisition in European medicinal cannabis company Ohrid Organics.
It was cited as a ‘potential innovative source of financing without having to resort to a dilutive share issue’, by Progressive Equity Research.
Aside from medicinal marijuana, cupcakes were also on the menu this week.
Real Good Food, the cake decoration specialist, saw its share price nearly double on Tuesday after announcing significantly reduced EBITDA losses and higher gross margins in its interim trading statement.
Shares came back down to Earth as the week progressed, but still managed to close nearly 30% higher.
As for the junior market in general, the AIM All-Share Index had a strong week, rallying 2.6% from Monday’s open, outperforming the FTSE 100 blue-chip index.
Central bank interest rate pauses in the UK and US provided most of the tailwinds.
Stock prices soared in London after the Bank of England maintained its benchmark interest rate at 5.25% for the second consecutive time on Thursday’s meeting.
Policymakers attempted to curb expectations, with Bank of England governor Andrew Bailey saying it’s ‘too early’ to be talking about interest rate cuts, hinting at restrictive monetary policy for some time to come.
Investors were having none of it though, taking the pause as a win and upping the risk/reward factor on the equity portfolios.
It wasn’t all cakes, cuts and cannabinoids this week though.
Green fuel specialist Velocys‘ 70% nosedive threw into stark relief the persisting funding issues blighting Britain’s small caps.
The company said that it wouldn’t be able to meet a deadline to complete a funding deal first mooted earlier this year.
While it is speaking to prospective strategic investors, Velocys said no binding agreement is in place.
In an update, Velocys confirmed it will require a cash injection before the end of the year.
In the manufacturing space, high-tech brake manufacturer Surface Transforms fell 35% as it warned of as it warned that production issues are still hampering production.
Single points of failure and a learning curve on the maintenance of new equipment are affecting the manufacturing line, it said.
Back to the risers, Kromek Group rallied 34% after willing new orders worth more than $1 million for its CBRN (chemical, biological, radiological, nuclear) detection products, most of which will be recognised in the current financial year.
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