CORAL GABLES, FL / ACCESSWIRE / January 5, 2017 / Technology and energy stocks helped boost markets this week. Chipmakers and health care based tech were two of the main proponents of this move. Shares of many technology stocks have continued to post some of the strongest trend performance over the last 12 months. Even with many other sectors posting a similar trend, technology gains have been on a notably higher pace compared to others.
In addition to the overall tech trend, this week several foreign-based companies helped to boost gains in the market. These included companies like Lexington Biosciences (LXGTF) and China Information Technology (CNIT)
Lexington Biosciences (LXGTF) has been on an uptrend since October. Shares of the cardiovascular medical device company have jumped nearly 50% as of Friday’s high price. The company is focused on bringing to market a wearable medical device with a technology capable of monitoring the endothelial function of its users. Lexington recently entered into a strategic business relationship with a San Francisco arm of Navigant Consulting Inc. The main goal of this relationship is to develop a coverage policy that supports the planned commercial rollout of the company’s HeartSentry
Eric Willis, Lexington Biosciences’ President explained, “Regulatory approval rarely guarantees payment coverage for new devices, so we are undertaking what we believe is the prudent strategy of beginning that process...the advice and direction we receive will prove invaluable towards providing HeartSentry the best strategy for market introduction.” Read about this and more news for Lexington Biosciences (LXGTF) by clicking Here.
In other areas, Chinese ADRs were also gaining attention from investors this week. Chinese nano-cap company China Information Technology (CNIT) saw prices of its share jump to highs of over $5 on Friday. This was a move of nearly 250% since the beginning of the year. Shares have been boosted, in part from the recent announcement that the company announced the signing of an agreement for 5,000 cloud-based ad terminals to be sold to an advertising agency in Beijing.
The company is expected to reap sales revenue of $1.5 million according to reports. Locations for the terminals will be in places like office buildings, residential communities, shopping malls and other outlets.
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