After reporting Q2 2020 financial results United-Guardian (NASDAQ: UG) surges 5.53%. Especially, year over year increase in the second quarter of 2020 net income encourages long term investors to buy more shares as the trustworthiness of UG strengthens.
Being a manufacturer of cosmetic ingredients and pharmaceuticals UG survives the lockdown despite losing sales 10% year over year. Perhaps, laying off the employees or closing stores had led to a positive change in net income.
UG is still cheap as compared to popular stocks like UBER, NKLA, TSLA, FB, and many more. Considering it as the long term investment could be the smartest decision for a profitable portfolio.