If you are looking to get into stocks that have been displaying considerable momentum then it might be a good idea to track the Bioelectronics Corp (OTC: BIEL) stock.
The stock has displayed strong momentum in recent days and over the course of the last week, it managed to deliver gains of as much as 50%. The trigger for the rally in BioElectronics might have been the announcement of the company’s fourth-quarter results back on January 19.
BioElectronics managed to generate revenues of $519,000 in the quarter, which represents a massive jump of as high as 241% from the previous quarter.
The revenues stood at $152,000 in the third quarter. However, more importantly, the company announced that on top of the revenues it generated, there are going to be deferred revenues to the tune of $554,000. Lastly, the two biggest lenders to BioElectronics have also decided to forego interest payments totaling as much as $750,000 in 2020 and are going to do the same in 2021.