The diagnosis for AIM in 2020 was surprisingly healthy

There were some mind-boggling gains made by AIM stocks in 2020.

When a stock rises by more than 1,000% and can’t even make the top five gainers, then you know it has been an extraordinary year in which it was possible to make a lot of money.

Unfortunately, if you were asleep at the wheel and held the wrong stocks, you could have lost your shirt.

The s**t or bust nature of AIM has always been part of the appeal of AIM or a major reason to avoid it – depending on your risk appetite.

It’s an ill wind that blows nobody any good

2020 was, of course, a year characterised by the ultra-scary coronavirus (COVID-19) pandemic but in any crisis, there always seem to be some who do well.

Step forward the stock market star of stars this year, (), the infectious disease diagnostics specialist.

The shares rose 5,970% in 2020 as the company released a succession of announcements detailing how its technology could detect COVID-19 cases.

In April alone, the shares rose from 196.5p to 405p after the company was provided emergency authorisation by the US Food and Drug Administration to deploy its coronavirus test, just when the outbreak was accelerating in several western countries.

The shares peaked at 1,194p in late October as the coronavirus diagnostics field started to get a little crowded. The welcome news about the development of COVID-19 vaccines also took some of the shine off the shares, which ebbed to around 830p but there will still clearly be a need for a good diagnostic test for some time yet – maybe forever.

READ Anatomy of a winner: picking a coronavirus success stock

(), up 2.370%, was the third-best AIM performer of the year and another stock benefiting from having a product that could contribute to the fight against the pandemic. In Synairgen’s case, the product was SNG001, an inhaled formulation of interferon beta, that tackles the severe symptoms of coronavirus.

The success stories were not all health-related, however. (LON:EQTEC) and (), two renewable energy specialists, had fantastic years; the former was up 854% and the latter up 1,230%.

While it was a torrid year for the fossil fuel-based energy firms, there was a feeling that renewable energy companies’ time has come, as governments look to funnel investment into infrastructure projects to reflate their economies while at the same time work towards hitting zero-carbon targets.

As good as gold

The end of year review always seems to have a few major success stories from the mining sector and this year was no exception.

() soared 1,940%, dragging () along with it; the latter has a 2.2% stake in Greatland and has been basking in the reflected glow of Greatland’s successful drilling results at the Havieron deposit in the Paterson region of Western Australia.

Investors in sector peer () are…