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.

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

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.

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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