The stock price of Allied Healthcare Products Inc (NASDAQ: AHPI) increased by over 55% pre-market today. There are not any direct news reports from the company so it appears there are external factors at play.
In this case, it appears that investors are responding to news that the World Health Organization will be holding an emergency meeting today to assess a coronavirus variant spreading across South Africa. Scientists are uncertain whether this variant is more deadly or more contagious.
“Initially it looked like some cluster outbreaks, but from yesterday, the indication came from our scientists from the Network of Genomic Surveillance that they were observing a new variant,” said Minister of Health Joe Phaahla via CNN, noting that it is unclear where the B.1.1.529 emerged from.
The B.1.1.529 variant was detected in South Africa, Botswana, and in a traveler going to Hong Kong from South Africa. This variant has a high number of mutations with over 30 in the key spike protein, according to genomic scientists.
Allied Healthcare Products is a company that manufactures and markets respiratory products for use in the health care industry in a range of hospitals and alternate site settings worldwide. There has been a pattern in the past where concerns about coronavirus variants caused the stock price of Allied Healthcare Products to see a jump in price.
https://pulse2.com/allied-healthcare-products-nasdaq-ahpi-stock-why-the-price-surged-today/
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