Clover Corporation’s [ASX:CLV] share price has risen another 6.69% today.
At the time of writing, the company’s shares are trading at $1.68, up from $1.57 yesterday.
Clover uses world class technology to create its Nu-Mega products, which are designed to deliver scientific benefits to the global infant children and medical food markets.
Why has Clover Corporation’s share price increased?
Clover’s share price continued to increase following a trading update made by the company this morning in response to the ASX price query made on 3 May.
The query addressed a suspicious price increase from 95 cents on 26 April, to a high of $1.40 on 3 May, along with the significant increase in volume of shares traded within these days.
Clover denied being aware of any information concerning the company which has not already been announced to the market.
They acknowledged that the sudden surge could be a result of a research paper by Ord Minnett recommending to ‘BUY’ the stock.
The infant formula focused company has had incredible growth over the past few months, increasing 161% since the end of March. Hopefully this upwards trend continues.
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PS: Clover Corporation has had huge growth since listing on the ASX, the company’s share price has increased by over 160%. Our analyst Sam Volkering believes that the biggest potential for huge gains is in the small-cap sector. If you’re interested in learning more, check out his free report ‘The Top Three Aussie Small-Cap Stocks to Own in 2018’.