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Given all the talk around Arm Holdings' blockbuster debut on the Nasdaq, you may be surprised to hear that London's junior market is home to another, albeit significantly smaller, fabless chipmaker in Sondrel (Holdings) plc. Sondrel is in the business of application-specific integrated circuit (ASIC) designs, which is geek speak for computers that are designed with just one job in mind. Bitcoin miners, for instance, use an ASIC built to mine bitcoin and nothing else. You get the point. London's junior market is home to another, albeit significantly smaller, fabless chipmaker in Sondrel (Holdings) plc. Anyway, while Arm Holdings takes flight in New York, adding 20 per cent on the first day of trading, Sondrel has had a bit of a shocker. Shares were down another 15% this week as it continued to reel from project delays and scaled back customer orders. Year to date, Sondrel is down a crushing 76 per cent. In its latest earnings call, the group conceded that full-year revenues will be 'substantially below current market expectations', with a corresponding impact on full-year losses. This Wednesday, Joe Lopez agreed to step down as chief financial officer with immediate effect, with non-board interim CFO Nick Stone taking the temporary mantle. A coincidence of timing perhaps? As for the wider small-cap market, the AIM All-Share Index got off to a worrying start after losing nearly 1 per cent on Monday. This was despite the blue-chip index starting the week on the front foot in anticipation of a packed week of macroeconomic news. Thankfully, junior stocks swung in the right direction as UK unemployment met expectations, as did the European Central Bank's 25 basis point interest rate decision. US inflation figures were a little on the heavy side, though not enough to spook the markets. The AIM All-Share ended up recovering those Monday losses to close the week flat at 746.42, though this was a marked underperformance against the FTSE 100, which gained ov

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