Why Co-Diagnostics Stock Is Jumping Today

Shares of Co-Diagnostics (NASDAQ: CODX) were up 11.4% as of 12:17 p.m. EDT on Monday after rising as much as 15.8% earlier in the day. The strong gains came after the molecular diagnostics company announced that its Logix Smart COVID-19 test has been approved for sale in Mexico, and that the Saragene COVID-19 test made by its joint venture, CoSara, had been cleared for sale in India. Co-Diagnostics CEO Dwight Egan also stated that orders for the Logix Smart COVID-19 test "continue to be strong."

Gaining access to new markets is good news for any company, and these are particularly important ones for Co-Diagnostics. India is the second-most populous country in the world, while Mexico, with approximately 129 million people, is tenth.

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Source Fool.com