SDC - WeTrade (WETG) Stock Soars 39% on Monkeypox Test Sales News
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WeTrade (NASDAQ:WETG) stock is rocketing higher on Friday after revealing a sale agreement for monkeypox test kits with Parkway Medical.
This deal has Parkway Medical agreeing to acquire $50 million worth of monkeypox virus test kits, as well as antigen test kits. That covers 5 million nucleic acid tests and 6 million antigen tests. Parkway Medical has already paid a $1 million deposit as part of the deal.
Pijun Liu, CEO of WeTrade, had the following to say about the monkeypox test kit news boosting WETG stock today.
“We are excited about the sales of monkeypox virus kits and antigen tests to Parkway Medical after obtaining the exclusive sales channel from Jiqing Biomedical Technology Co. Ltd. We are delighted to work with Parkway Medical to provide the test kits and antigen tests to overseas market as we aim to contribute to the prevention and control of the outbreak.”
To go along with this news, WETG stock is seeing an increase in trading volume on Friday. As of this writing, more than 395,000 shares of the stock are on the move. To put that in perspective, the company’s daily average trading volume is only about 82,000 shares.
WETG stock is up 38.7% as of Friday morning and is up 508.5% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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