Shineco (SISI) Stock Price Rallied 52% on Upbeat Investor Interest

The Shineco Inc (NASDAQ: SISI) stock price rallied 52.2% despite the lack of recent news releases from the Chinese company. The lack of news means we can attribute today’s rally to positive investor sentiment and buying pressure.

Given that Shineco is a microcap stock with a market capitalisation of just over $3 million, we do not need a lot of buying to trigger a rally in its share price. However, stock market data indicates that over 15.89 million SISI shares had changed hands at writing. 

The large number of shares changing hands indicates that Shineco stock is extremely popular among investors today. Let’s look at its past releases to see if we can find a reason why the investors who are buying SISI stock are so bullish on the stock. 

Shineco’s last major announcement was on July 10, 2023, when it revealed that Changzhou Biowin Pharmaceutical, a majority-owned subsidiary of the Company, received marketing and distribution approval for its Cardiac 5-Minute Test from the Jiangsu Bureau of the National Medical Products Administration, NMPA, which is China's regulatory equivalent of the U.S. Food and Drug Administration (FDA).

At the time, Dr. Marvin Liu, CEO of Biowin, said: “We are very glad to have received marketing approval for our Cardiac 5-Minute Test from the NMPA. This is a significant milestone for our business, and we believe that the diagnostic test will achieve high acceptance in the Chinese market. As the inventor of the technology for the Cardiac 5-Minute Test, we are pleased that its fast detection marks a significant technical breakthrough that sets our diagnostic medical product apart from other products on the market. It provides a new and highly valuable approach to conducting cardiac marker tests within 5 minutes, which we believe will save lives in China and throughout the world.”

Another announcement from Shineco was that its wholly owned subsidiary, Shineco Life Science Research Co., signed a joint venture cooperation agreement with Yangzhou Kangling Medical to establish a joint venture company, Shangkang Life Science and Technology.

Still, the two announcements are from a long time ago. Hence, we cannot attribute today’s price rally to the same. 

Shineco stock price. 

The Shineco stock price rallied 52.22% to trade at $0.22, rising from Monday’s closing price of $0.1429.