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Deepverge Shares Surge 15.7% As Investors Discover Its Value Proposition

Simon Mugo trader
Updated 31 Dec 2020

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Shares of Deepverge PLC (LON: DVRG) surged 15.7% today despite the company's lack of major announcements as investors discover its value proposition.

The company formerly known as Integumen has seen its shares rally for the past three consecutive days as buyers stepped in as the year draws to a close.

Deepverge launched a new service for its Labskin customers in August, which has performed better than expected since then, securing over £400,000 in completed sales during Q4 may be one reason for the rally.

The company’s revenue’s for the 2020 financial year are set to cross the  £4 million, a 300% increase to the  £1 million in revenues recorded in 2019.

Deppverge’s Labskin product clones the human skin to recreate the perfect microbiome to enable real-world environment testing of products virtually.

The company has also signed 10 new clients who had not used its Labskin product in the past. Investors seem to be catching up to the company’s unique products and their wide application across various industries.

Deepverge share price

Tradingview chart of Deepverge share price 31122020

Deepverge shares spiked 15.7% higher to trade at 33p having rallied from Wednesday’s closing price of 28.5p.

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