Universal Biosensors surges on positive result

Universal Biosensors (UBI) may have bottomed following a strong quarterly sales result that sparked the biggest one-day gain in its share price in five-years.

Universal Biosensors (UBI) enjoyed its best one-day gain in five years as sales of its glucose test strips jumped to a record in the March quarter.

We highlighted the probability of this pleasant surprise in January when I reiterated my recommendation on the stock, but this wasn’t enough to win over sceptics who sold the stock down to a record low of 29 cents on Monday.

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