LBT Innovations – 100% returns in a day
I was having this stock ( an 20 mllion $ market cap until the market opened today, closed at 42 Million $ market cap) on the radar for six odd months and wanted to see how the sales gain traction after the company brings out its unique and innovative, patented product. It effectively replaces a highly skilled microbiologist with a 50-100,000$ equipment. Company does not have steady business as yet, but of course someone knows more than I do.
This Australian company just announced its USFDA approval after a lengthy multi year process. Obviously it gave a laggard like me no chance to read its quarterly, yearly progress on the sale of products and their profitability. Market decided to double it on the 10th of October 2016 from 18 cents to 36 cents.
Disclosure: Not invested in LBT Innovations. Views are personal notions and do not represent any organisation or company. Investment in stock market can (and many a times do) result in loss of principal capital.