Why Eden Innovations Share Price is Up 19.3% — Not a Mystery
Eden Innovations Ltd [ASX:EDE] has been a big winner today, up 19.3% at time of writing.
Indeed it has been a big winner since 21 September, moving from a low of $.035 to $.099 in the past three weeks.
That is a 283% gain.
Eden Innovations queried by ASX
But the ASX is mystified as to why Eden Innovations has rocketed up.
It recently wrote to Eden Innovations with a please explain letter.
The ‘Price and Volume Query’ asked:
‘Is the Company aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain recent trading in its securities?’
To which the company simply responded:
The real story is that there has been positive news for Eden Innovations since 13 September.
News that is only now being priced into the share.
As the company notes, over the past month US orders of its EdenCrete® concrete admixture have grown.
This admixture is something that is added to concrete to improve its performance.
It is also unique in that it uses a new technology to get results.
Eden Innovations uses graphene — a promising new technology
This new technology is called carbon nanotubes.
Carbon nanotubes are microscopic carbon cylinders which have applications in a variety of fields.
They are usually composed of a single atom thick sheet of carbon called graphene.
Graphene is extremely exciting technology that could soon be involved in almost every aspect of our lives.
As far back as 2013, the European Union made a €1 billion grant for research into potential graphene applications.
Going back to Eden Innovations, it is therefore not surprising that investors are getting excited.
Further fueling this excitement is recent news out of the US.
That is, if the Democrats come to power in the US mid-term elections, Trump will make a US$1 trillion infrastructure deal with them.
Given the growth of Eden Innovations US orders, this only adds further buoyancy to its share price.
This ‘mystery’ is certainly an exciting story and one that could net investors big profits.
For Money Morning
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