A well-known company for its COVID-19 test kit manufacturer Co-Diagnostics is having stock (Nasdaq: CODX) which has been growing since May 1. $12.06 change occurred within just this month. Not only its coronavirus test kit causes the growth in the share price. On the 14th of May Co-Diagnostics announces its Q1 2020 earnings. Perhaps, the buyers expect positive changes in the revenue and growing net income. That could affect the price directly within one day of trade.
The total volume already exceeds the average volume by almost 90%. After the Q1 earnings release, its shares may go up by reaching $30 because testing kits are in unreal shortage.
About Co-Diagnostics, Inc. (copied from codiagnostics.com)
Co-Diagnostics, Inc., a Utah corporation, is a molecular diagnostics company that develops, manufactures and markets a new, state-of-the-art diagnostics technology. The Company’s technology is utilized for tests that are designed using the detection and/or analysis of nucleic acid molecules (DNA or RNA). The Company also uses its proprietary technology to design specific tests to locate genetic markers for use in industries other than infectious disease and license the use of those tests to specific customers.