Power Probe, a developer of power tools for car mechanics, has experienced a significant stock slump since its debut on the junior Aim market in December 2025. The North Carolina-based firm's stock has shed nearly 40% since the beginning of the year.
The company also revealed that becoming a public entity led to additional costs of around $600,000 (£450,000) in the first half of the year, impacting its earnings. Adjusted pre-tax earnings slid by approximately 30% to $3.8m during the period.
Despite the financial downturn, chief executive Chema Garcia stated he is still “enjoying the ride” and that the IPO was “not the end of the project it’s just the beginning.” He added that the firm is learning from the City and the stock market while expanding its business.
Power Probe reported a 16.5% drop in revenue to $17.7m in the first six months of the year, attributing this to the timing of new product launches, which are expected to be weighted towards the second half of the year. The company issued an interim dividend of 1.6p per share, and its stock remained unchanged on Monday following the publication of these results.