A Polish protective-glove maker has seen its stock explode 6,700% this year as the pandemic fuels a boom in sales
- A Polish glove-maker’s stock has risen 6,700% this year, as the COVID-19 pandemic has fueled a boom in its sales.
- Mercator Medical crossed a 7 billion zloty ($1.8 billion) market valuation for the first time after its stock surged 13% on Tuesday, Bloomberg first reported.
- Mercator’s third-quarter net income leapt 70% to about 356 million zloty ($92 million) compared to just 1.3 million zloty ($337,922) a year ago.
- Poland has so far reported about 142,000 coronavirus cases and 3,217 fatalities.
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Shares in a little-known Polish company that makes disposable medical devices and personal protective equipment have surged 6,700% this year, making it by far the best performer on Warsaw’s WIG blue-chip index.
Mercator Medical’s shares surged over 30 times in value in the earlier half of the year, when the initial effects of the coronavirus pandemic spread across the world, boosting its sales.
As new infections in the country have crossed the peak levels of the first wave, Mercator’s market value has doubled, making it one of the 20 most valuable stocks in the 318-strong WIG index.
A 13% jump in its stock on Tuesday, first reported by Bloomberg, bringing its market value above 7 billion zloty ($1.8 billion) for the first time.
Mercator’s third-quarter net income jumped 70% to about 356 million zloty ($92 million), compared with just 1.3 million zloty ($337,922) a year ago, according to Bloomberg.
The glove-maker’s sales jumped over four-fold year-on-year.
Poland has one of the lower infection and fatality rates among larger European economies, having so far reported about 142,000 coronavirus cases and 3,217 deaths, according to data