GKIT - Ibio Continues To Gain Momentum On Coronavirus Buzz
The continued coronavirus crisis has resulted in a rally in the stocks of those companies which are involved in developing vaccines for the virus. On such company is Ibio Inc (NYSEAMERICAN: IBIO), and there is a lot of optimism around the company’s plant-based vaccine for the coronavirus.
The company has partnered with a China-based firm to develop the vaccine, and that has continued to drive the stock. Over the course of the past two weeks, the stock has rallied by as much as 500.
On Monday, the company announced that it was not going to go ahead with the reverse stock split that it had planned. The announcement led to some investors booking some of their profits in the stock.
That being said, the primary reason behind the rally is rooted in the partnership with China’s CC Pharming Ltd for the development of a coronavirus vaccine. The FastPharming facility built by iBio is apparently going to be used to deliver treatments rapidly to those suffering from the coronavirus.
While iBio could well prove to be a promising stock, investors could also take a look at the CBD company CBD Unlimited Inc. (OTC: EDXC). The CBD industry is growing at a decent clip, and CBD Unlimited is currently one of the more promising companies in that space.
CBD Unlimited Inc. (OTC: EDXC) is involved in making hemp-based CBD, and currently, it is best known for manufacturing the pet chew Phyto Bites. It also makes oils, capsules, and tropicals. However, that is not all. The company’s products are currently available in more than 5600 stores across the United States, and this year, it wants to expand that to more than 20,000.
Eventually, CBD Unlimited Inc. (OTC: EDXC) wants to have its products in more than 50,000 stores. In 2019, it grew its revenues by 101% as it generated revenues of $1.49 million.
Source: Stock Market Press
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