Day traders are cheering on a small medical-diagnostics company that's soared 237% today after announcing a $28 million order
- Shares of
Chembio Diagnosticssurged as high as 273% Wednesday as the company announced a large order for its COVID-19 tests. Day traderson StockTwits cheered on the stock, which had hit its lowest point since 2010 the previous day.
- Trading volume in Chembio also skyrocketed.
Day traders are cheering on a small medical diagnostics company that's seen its stock move as high as 237% Wednesday after it announced a multi-million purchase order for its COVID-19 antigen tests.
After hitting their lowest point since 2010 on Tuesday, shares of Chembio Diagnostics shot up to $6.95 by mid-morning Wednesday. The Hauppague, New York company announced it received a $28.3 million purchase order from Bio-Manguinhos for the purchase of Chembio's COVID-19 antigen tests.
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Chembio was the top trending ticker Wednesday afternoon on StockTwits.Trading volume also exploded in Chembio, with over 286 million shares having exchanged hands as of Wednesday afternoon, compared to the average volume of 3.8 million, according to Bloomberg data.
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