Small-cap movers: Fabric tech firm Heiq is down 40% after earnings warnings.Genincode, a genetics company, jumps 70% in licensing approvals
HeiQ, a London-listed Swiss ‘performance textiles’ technology company, has blown away New Year’s gloom for investors as it opened with a profit warning in January.
The company, which makes odor-resistant and antibacterial fabrics and textiles like Hugo Boss and Lycra, has seen its shares plunge more than 40% this week as it warned shareholders of a “significant deterioration” in consumer demand. . During the fourth quarter.
Indeed, in the midst of the cost of living crisis and new recession, HeiQ’s customers are correspondingly feeling fear and uncertainty, both figuratively and literally.

Heiq manufactures fabrics and textiles that are odor resistant and antibacterial.
HeiQ said brands have become hesitant to invest in new and innovative product development, leading to delays in key milestones with partner brands.
The company told investors that its expected volume was “pushed” into the next financial year, but now trades at around 30 pence, with the share price down 60% in the past six months. , well off the December 2020 float price of 112 pence.
Short of rest, the company cut its 2023 outlook and dashed growth hopes. Sales and margins are now at similar levels to last year and need to be trimmed down.
With the AIM 100 index up 2% to 4,034.09 by the end of the first week of trading in 2023, small caps have edged higher across the broader market and this is the FTSE 100’s blue chip. It was in close agreement with the FTSE 250 for stocks and mid-cap stocks. standard.
On the upside was genetics company Genincode, whose shares surged 70 percent to trade at 15 pence after its Irvine, Calif. lab gained state licensing approval and CLIA certification.
The new commercial opportunities are significant as healthtech juniors will be able to provide patients with products used to assess cardiovascular disease risk in 49 of the 50 states in the United States.
In a statement, the company said, “Significant efforts have been made to bring these approvals to fruition and this represents a major advance in the company’s commercial program.
Another British technology stock on the rise is radiofrequency mesh network provider CyanConnode, whose Indian subsidiary has received an order to supply omnimesh modules to a smart meter deployer in Jabalpur, India, according to news on Wednesday. , rose about 31% to 17 pence. .
The order, which came from Gujarat civil engineering company Monte Carlo Limited, was “won against a very competitive sector,” according to Executive Chairman John Cronin.
Meanwhile, in the junior oil and gas sector, Enwell Energy faced a frustrating but perhaps not unexpected challenge, noting that it could lose its rights to operate in Ukraine. Major indirect shareholding interest in the company.
Novynskyi is currently under sanctions from the Ukrainian government and a new law that will come into force at the end of March will allow the government to suspend or revoke licenses for minerals or hydrocarbons ultimately owned by persons under sanctions. You will be able to
Continuing to stick to hydrocarbons, United Oil and Gas’ decline was purely for operational reasons.
advertisement