Why is Elitecon International (NASDAQ: ELCN) stock up today?
Business
Elitecon International's stock jumped 5% on Thursday, snapping a long losing streak.
The excitement comes after the company revealed it's considering merging with three other firms.
Impressive performance and potential upside
Elitecon has crushed it in the past year—delivering 133% in one year while most of its industry lagged behind.
With strong profits and an estimated share value way above its current price, there could be more upside for investors.
Potential merger and earnings catalyst
Merging with Sunbridge Agro, Landsmill Agro, and Golden Cryo could make Elitecon bigger and more efficient.
Deloitte is advising on the deal.
Plus, the company's revenue just shot up by over 150% in one quarter.