The last time any news emerged about Plandaí Biotechnology Inc (OTCMKTS:PLPL) since as far back as June 2018 and it can perhaps be safely said that the company has been a bit dormant.
However, its stock was anything but dormant on Thursday as investors piled on to it in a big way and sent it soaring by as much as 33%. When such a rally takes place, most investors rightly believe that the move might be speculative in nature. However, at the same time, a rally of that magnitude cannot be ignored and hence, it might be a good move to take a look into the company’s line of business.
Plandaí is involved in producing botanical extracts of a proprietary nature that are then used in the pharmaceutical and nutraceutical sectors. At this point in time the company is working on a product named Phytofare Catechin Complex that is supposed to be derived from green tea that is harvested at the Senteeko Tea Estate situated in South Africa.
However, the reason behind the rally in the stock on Thursday remains a bit of a mystery at this point. That being said, investors could still consider keeping any eye on the stock today.