While this is a sluggish day for the broad US stock market today the price of gold is up again and there is action in some small cap stocks. Shares of Aimia Inc. (OTCMKTS: GAPFF) are in fact up over 20% so far this morning on over 204,000 shares of trading volume. Take a look at the chart.
Aimia is a company that makes strategic investments in other companies. It operates a bit like a holding company. Its trades under the symbol AIM on the Toronto stock exchange and as GAPFF on the US OTC, where it is hitting the list of top gaining stocks today. Helping to drive interest in the stock is news of a new China deal that the company is making. The company announced in a press release this morning that it is investing $75 million into Clear Limited Media, an outdoor advertisement firm in China.
Aimia Chief Executive Officer, Phil Mittleman, commented: “Aimia’s investment in Clear Media represents an outstanding opportunity, diversifying our holdings and taking advantage of the COVID-19 related economic malaise in the U.S. and China. Aimia now owns a large stake in a leader in the outdoor advertising market in China with more than a 20-year track record, strong growth and free cash flow generation, and 19 years as a public company, backed by a blue chip consortium of investors and a highly skilled management team.”
The action is driving small cap traders on Twitter into action.
$CCO $GAPFF $CRMLF – Aimia acquires 10% stake in Clear Media Limited https://t.co/jStY7o235h
— Breaking News (@MarketCurrents) May 13, 2020
Royal Bank of Canada Upgrades Gold Reserve $GAPFF to “Outperform” https://t.co/t4qL0U0x5b
— Dakota Financial (@dakotafinancial) May 13, 2020
$aim pt 7$? Why not? pic.twitter.com/1n3OEWuY1D
— Javier (@JGPbolsanews) May 12, 2020
$AIM looking good today. $CNAT volume is building to the upside
— Reformed Trader (@Reformed_Trader) May 13, 2020
Personally I am only monitoring this stock. My favorite small cap stock that I own is a silver miner that is now turning up. Many trades are jumping into the market trying to play the “return to normal rally.” I talked about that with David Skarica in a traders talk you can find here.
-Mike
