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Previously writing on technology products principally for the gaming and broadcast industries company Quixant (QXT), with the shares towards 160p I concluded hopefully my prior warning was heeded – and, with that, I question whether the “softness in demand” is really worse than should have been reasonably anticipated? As such, I also remain wary of the company’s confidence for the future – and particularly so with the market cap still more than £100 million (currently circa $130 million). I continue to avoid. Now a “2019 Trading and COVID-19 update” – and the shares currently around 60p, a further more than 20% lower on the latest news…

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Previously writing on self-styled “a leading provider of innovative, highly engineered technology products principally for the global gaming and broadcast industries” Quixant (QXT), in September with the shares slumping to just over 160p I questioned were even reduced forecasts realistic given customers have informed that order levels will not return to previous levels through “at least” the first half of 2020. Now a “Trading Update”…

NEWSFLOW

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On 23rd July it was “Quixant (AIM: QXT), a leading provider of innovative, highly engineered technology products principally for the global gaming industry, is pleased to provide an update on trading for the six months ended 30 June 2019... H1 2019 was completed as we expected and reported in March, with the lower than anticipated consumption of some major customers improving as we enter the second half… a growing order book during H1 positions us well to deliver a strong second half to the year… The company's interim results for the six months ended 30 June 2019 are expected to be announced on 24 September 2019”. Now, 17th September, “Interim Results”. Hmmm…

NEWSFLOW

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From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2018 and thus far in 2019 (by net short position %, those in bold not on the list at the start of 2019) – and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

NEWSFLOW

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From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2017 and thus far in 2018 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

NEWSFLOW

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The position here at Quixant shows overall progress within a rising trend channel which can be drawn from as long ago as May 2015.