Stonking Small Cap success
There were positive updates from three of our previous Stonking Small cap selections, bringing more upgrades for these fast growing companies, despite the current market malaise. Elsewhere, an overrated business saw its shares tumble on a lacklustre trading update.
Essensys: shares take a bath, it was long overdue Shares in essensys (AIM:ESYS), a provider of software-as-a-service to the flexible workspace industry (think Regus and We Work, although they aren’t clients), were cut in half following a disappointing trading update. It’s yet another highly rated business where growth is falling woefully short of the sky-high rating. For the half year ending 31 January 2022 revenue rose only 3% to £10.9m. Strong growth in the US was offset by the unexpected loss of a UK customer, perhaps suggesting that their software offering is not as sticky as previously thought. Expansion has…