Genetic Technologies Analyst Report: No news drives GENE up 30% Issued by BrokerBank, Securities, Inc.
NEW YORK, Feb. 17, 2015 /PRNewswire/ -- Genetic Technologies Ltd. (NASDAQ: GENE) a genetic testing service provider based in Melbourne, AU recorded a surge in share price over the last trading day of the past week. The share price appreciated as much as 50% during intraday trading on volume of nearly 40 million shares. The sudden onset of interest in this particular stock is undetermined but may be the result of several theories discussed in the detailed report.
The US government recently announced a funding initiative for the DNA biotech / healthcare sector, one that Genetic Technologies Ltd operates in. A proposed $225 million will be budgeted for enhancing precision medicine; a DNA based treatment for individual patients. This news was announced on Jan 30th 2015.
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