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Catenae Innovation (CTEA) Shares Surge On Covid-19 Vaccine Passport Reports

Updated: 22 Apr 2021

Shares of AIM-listed Catenae Innovation (LON: CTEA) are rallying on Thursday after reports that Covid-19 vaccine passports will be available for the summer holidays.

According to a report in the Telegraph, the travel industry has been told that Covid passports will be made available to prove people have been vaccinated as early as next month, in time for the summer holidays.

Catenae is a developer of a blockchain-driven Covid passport system and were asked to participate in a government initiative to make it simple for people to verify they have been vaccinated using modern technology.

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A European Medical Agency has also said that fully vaccinated travellers should avoid quarantine and tests to make it easier and cheaper, encouraging more travellers.

In February, when Catenae were asked to participate in the government scheme, their CEO, Guy Meyer, said they looked forward to “highlighting the commercial benefits of the Digital Identity Policy, as well as advising how organisations should handle and protect people's data.

“Given that Catenae is ISO 27001 accredited and has blockchain at the core of its platform, the company is well placed to leverage opportunities in this space.”

Catenae’s share price rose over 20% to 3.21p, following the news. They have since given up some of those gains, now trading at 2.725p, up 9% from Wednesday’s close.

Should you invest in Catenae Innovation shares?

Catenae Innovation shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Catenae Innovation shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

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