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Myhealthchecked (MHC) Shares Rallied 16.7% on Reaction to New UK Govt Travel Rules

Simon Mugo trader
Updated 20 Sep 2021

Myhealthchecked PLC (LON: MHC) shares rallied 16.74% after re-issuing a statement regarding the British government’s revised testing regimes for travellers arriving in the country from specific countries.

The British government is set to lift the day 2 PCR testing requirement for fully vaccinated travellers arriving in the UK from non-red list countries starting on Monday, October 4, 2021.

Fully vaccinated travellers from non-red list countries will be allowed to replace the day 8 expensive PCR test with the much cheaper lateral flow test.

However, travellers from red-list countries will still have to take the day 2 pre-departure PCR tests and the day 8 test, while still being required to quarantine for 10 days in a managed hotel.

Myheathchecked reassured investors that the changes made by the British government in regards to COVID-19 testing would not have a material impact on its expected earnings throughout the rest of the year.

The company’s directors expressed confidence that monthly testing volumes would still contribute significantly to its overall revenue growth this year.

The firm noted that the COVID-19 testing requirements for outbound travel had not changed, which means that demand for its PCR tests in that segment would remain largely unaffected by the latest government guidelines.

Investors cheered the move as evidenced by today’s rally. Still, Myhealthchecked shares are down 43% over the past six months, which represents a significant drop from their yearly highs.

It remains to be seen whether the shares can rally higher after the firm releases its Q3 trading results on Wednesday 29 September 2021.

*This is not investment advice.

MyHealthChecked share price.

IG chart of MyHealthChecked share price 20-09-2021

MyHealthChecked shares rallied 16.74% to trade at 2.51p, rising from Friday’s closing price of 2.15p.

Should you invest in MyHealthChecked shares?

MyHealthChecked 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 MHC 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