Why the IDT Australia (ASX:IDT) share price is up 150% in just 2 days

The IDT Australia Limited (ASX:IDT) share price was on fire again on Monday and stretched its two-day return to a staggering 150%…
The post Why the IDT Australia (ASX:IDT) share price is up 150% in just 2 days appeared first on The Motley Fool Australia. –

asx share price increase represented by golden dollar sign rocketing out from white domes of lithium

The IDT Australia Limited (ASX: IDT) share price was on fire again on Monday.

The pharmaceutical manufacturing company’s shares were up as much as 67% to a multi-year high of 47.5 cents at one stage.

When the IDT Australia share price hit that level, it meant it was up 150% in the space of just two trading sessions.

The company’s shares eventually ended the day with a gain of 52.5% to 43.5 cents.

Why is the IDT Australia share price up 150% in two trading sessions?

Investors have been scrambling to buy IDT Australia’s shares following the release of a positive yet brief announcement at the end of last week.

That announcement revealed that the Australian Government’s Department of Health has been in touch with the company in respect to support in manufacturing COVID-19 vaccines.

According to the release, IDT Australia is now undertaking a feasibility assessment to assess the possibility of utilising its sterile manufacturing facility to supplement the production capability for a COVID-19 vaccine.

What next?

At this stage, no further details have been released. However, the company intends to provide the market with updates as and when additional information comes to hand.

Though, given its experienced team of specialists and world class facilities, the company appears well-positioned to help with the vaccine manufacturing.

But because of the unknowns, investing at this stage is very high risk. After all, nobody knows just how much revenue would be generated should the company be given a contract.

IDT Australia isn’t the only company that investors have been buying shares of for this reason.

The Probiotec Limited (ASX: PBP) share price has also risen strongly over the last two trading sessions.

Probiotec is a leading manufacturer, marketer, and distributor of a diverse range of prescription and over-the-counter pharmaceuticals, complementary medicines, and specialty ingredients. Investors may believe it could be called into action as well.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Probiotec Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the IDT Australia (ASX:IDT) share price is up 150% in just 2 days appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!