Why the Zoono share price has surged again today

The ASX 200 shed another 175 points in the first hour of trade today – slipping to the 6,256 point mark a little before 11.

This caps off a week where global shares suffered some of their worst losses since the global financial crisis. Tech heavyweights like Apple, Microsoft and Amazon have all had hundreds of billions in market value destroyed.

Zoono share price: a bullish escape

Of course, this is not to say that all stocks across the globe are falling; there are, as there always has and always will be, pockets of opportunity for investors.

One such opportunity so far appears to be Zoono Group Limited (ASX: ZNO) – a tech-focused small-cap involved in the production of sprays, wipes and foams that kill a variety of pathogens, such as viruses, algae, bacteria, fungi and mould.

Zoono’s share price is up more than 200% in the last two months – off the back of a string of news announcements surrounding the company's Zoono technology and its effectiveness against the Coronavirus.

Though merely theorised previously, last Friday the company made the following announcement:

‘Zoono Tests Successfully Against Coronavirus COVID-19.’

In the current bearish climate of rumour, speculation and panic, it is hardly surprising that Zoono’s share price rose near 17% on Friday and as much as 13.98% during the opening hour of trade today.

At this point however, one is left wondering if this kind of price action is sustainable.

Do you think Zoono’s share price has run too far or it’s the beginning of something bigger? You can trade Zoono shares – both LONG and SHORT – through IG’s world-class trading platform now.

To buy (long) or sell (short) Zoono shares, follow these easy steps:

• Create an IG Trading Account or log in to your existing account
• Enter ‘Zoono’ or ‘ZNO’ in the search bar and select it
• Choose your position size
• Click on ‘buy’ or ‘sell’ in the deal ticket
• Confirm the trade

Zoono’s latest release in focus

The results of Zoono's latest COVID-related announcement have evidently stoked further enthusiasm amongst investors. Looking at the specifics, the company last week noted that:

'Is pleased to advise that it has today received the report for the laboratory tests undertaken against COVID-19. The results show that Zoono's Z-71 Microbe Shield (the same Zoono technology used in Zoono hand sanitiser is >99.99% effective against COVID-19.'

5 litres of Zoon's Z71 product retails at $249.00.

Adding to this, Zoono released an additional announcement on Friday, positively writing, that in partnership with the ASX-listed Eagle Health Holdings, that 'the first shipment from Zoono (approximately 4 tonne of product) is being prepared for air-freight and transport to Eagle's Xiamen facility and is scheduled to be despatched from Auckland later today [last Friday].'

By 11:08 AEDT today, Zoono’s stock traded at $2.24 (+18%). By comparison, in October 2019, ZNO traded for just $0.090 per share.

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