Will Chembio Diagnostics (CEMI) Hit $10 After The Recent News?

Before the start of today’s trading session, it might be a good move for investors to take a look at some of the stocks which managed to record significant gains yesterday.

By that principle, it might be worthwhile for investors to take a closer look at the Chembio Diagnostics (NASDAQ: CEMI) stock, which managed to deliver gains of as big as 60% on Monday. More importantly, the trading volumes in the stock were also quite impressive and all of that was triggered by an important announcement from the company yesterday.

The company announced yesterday that the United States Food and Drug Administration granted an Emergency Use Authorization to its rapid COVID-19 test. The product in question does not need any kind of instrumentation and can easily differentiate the COVID 19 virus from that of the common flu virus. It is, without a doubt, major development and one that could result in considerable attention for the stock.

Jack Dawkins

Finance and Tech Contributor

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