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Deepverge Shares Rallied 5.75% After Launching Its Skin Trust Lab App on Apple’s App Store

Simon Mugo trader
Updated 26 Apr 2021

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Shares of Deepverge PLC (LON: DVRG) rallied 5.75% after the environmental and life sciences group announced the launch of its Skin Trust Club app on Apple’s iOS App Store.

The application is available for download in the UK and Ireland and provides a personalised beauty experience to each user based on their skin microbiome.

Users of the app get a personalised skincare routine after taking a home test kit, whose results are automatically analysed in the company’s Labskin laboratory then relayed to the subscriber via the smartphone app.

Deepverge shares spiked higher briefly then gave up some of their gains by the time of writing. The company’s shares are trading near a crucial resistance level, and we will be watching closely to see if they can break above this level.

The app provides real-time updates to the user, as it is linked to their environment via their smartphone. The Home Test Kit comprises a single swab that analyses the skin microbiome and delivers a dynamic report with daily updates based on the user’s environment, including the weather and environmental pollution levels.

The app is powered by Labskin based at Deepverge’s York, UK laboratories, which tests the skin swabs taken using the Home Test Kits. The company noted that it had the additional capacity to handle the immediate demand for home test kits once ordered.

Gerard Brandon, CEO of DeepVerge, commented:

“The App Store opens our Skin Trust Club to everyone with interest in providing greater care and protection for their skin. Being able to identify which products are truly suited to your skin will empower an informed choice of skincare routine, based on your microbiome and the environmental impacts of the area in which you live.”

A break above the resistance level shown below could trigger a significant rally in future.*

*This is not investment advice.

Deepverge share price.

IG chart of Deepverge share price 26-04-2021

Deepverge shares rallied 5.75% to trade at 34.9p, having risen from Friday’s closing price of 33p.

Should you invest in Deepverge shares?

Deepverge 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 Deepverge shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading