Nanoveu shares surged as much as 13% this morning before we witnessed some selling pressure. The stock price finally settled at $0.068 – representing a 7.94% surge. Nanoveu is an $8 million market cap company that has been very volatile during the pandemic. However, the overall performance has been very close to some of the top growth stocks during the pandemic, with a 36% gain in share price during the past 1 year.
The ASX listed firm, Nanoveu announced this morning that they have signed a 1 year agreement with CuVira Ltd for the exclusive distribution rights of its Nanoshield antiviral products in the United Kingdom. After this announcement was made, NVU’s shares surged up by over 12.698% and is trading at A$0.071 on 15 February 2021.
Nanoveu products can be applied on a lot of surfaces and hence, they are used in mobile phones and digital displays. The Nanoshield products have a coating of copper nanoparticles and hence have antiviral and antimicrobial features. Nanoveu’s deal with CuVira brings a lot of potential for further expansion throughout the region. For Nanoveu, this is not the only commercial agreement that they have in place. Nanoveu already holds several partnership agreements for the commercialisation of its products in Singapore, Malaysia, Thailand, Australia, and New Zealand.
This broadening of horizons will continue into the future and Nanoveu is targeting the B2B channel for its commercialisation, and is also said to be improving the sales potential in the direct-to-consumer channel using its online portal.
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