Tech stocks grow even in the OTC market which has no big spot from the majority of investors. On Friday Infineon (IFNNY) rose 3.04% to $32.59 on 131,416 shares only while other peers traded millions of volume. Actually, IFNNY is a phenomenal stock in the semiconductor industry by growing about 300% since March 16 when a major stock crash happened due to fear of coronavirus.
A lot of fund managers and analysts urged in April to invest in biotech and semiconductor shares as they are safe from the direct impact of the lockdown. IFNNY hasn’t been so popular as AMD or Intel during its miraculously slow growth, perhaps, it is not a strong brand that handles awareness campaigns in ads.
Until next month the stock is expected to reach $43.00 line according to the pattern of the surge. Suppose, buying 100 IFNNY shares could make a 20% return for instance. Sparing several thousands of U.S dollars might be a wise move to enrich the portfolio.
Biotech, Tech, and Crypto reporter
Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.