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BIMI International Medical (NASDAQ:BIMI) stock is on the rise Tuesday and we’re diving into all the latest details about the company.
Let’s get right into today’s news below!
BIMI International Medical is a health industry founded in 2006.
It took on its current name in 2019 when it reorganized from NF Energy Saving.
This also saw it switch its main business over to healthcare.
The company’s focus is on “consumer-directed health products and related services.”
BIMI International Medical has a market capitalization of $35.759 million.
The big news moving BIMI stock higher today is its Q3 earnings report.
That includes revenue of $13.78 million.
This is a 345.7% increase compared to the $3.09 million reported during the same time last year.
The company also saw its gross profit for the quartet come in at $2.03 million.
That’s a massive 688.7% surge from its gross profit of $1.77 million in the same period of the year prior.
Tiewei Song, CEO of BIMI International Medical, said the following in the earnings report boosting BIMI stock today.
“We are glad to achieve significant revenue growth in the third quarter. The growth was mainly driven by the increase in sales of wholesale pharmaceuticals. Contributing to the increase in revenues for the three months ended September 30, 2021, was the operations of our recently-acquired five hospitals.”
The earnings news today also has BIMI stock seeing heavy trading. As of this writing, more than 102 million shares of the stock have changed hands. That’s a major increase over the company’s daily average trading volume of about 5.4 million shares.
BIMI stock is up 53.4% as of Tuesday morning.
There’s more stock market news to dive into below!
InvestorPlace has traders covered with our daily dives into the stock market. A few examples include what’s happening with Lucid Group (NASDAQ:LCID), Peloton Interactive (NASDAQ:PTON), and Rivian (NASDAQ:RIVN) shares today. You can get up to speed on that at the following links!
More Stock Market News for Tuesday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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