The Wellnex Life Ltd (ASX: WNX) share price has skyrocketed today, finishing the session at 16.5 cents — a gain of 37.5%.
Wellnex, formerly Wattle Health Australia Ltd, returned to the ASX under the new ticker yesterday after an 18-month suspension.
On the re-listing, Wellnex shareholders were quick to unload shares at a rapid pace, resulting in a 75% loss on the day.
However, following an investor presentation from the company today, the Wellnex Life share price enjoyed a turnaround in fortunes.
Let’s take a look at the contents of Wellnex’s presentation in a bit more detail.
But first — a quick recap on Wellnex
The newly named Wellnex is engaged in health and wellness. It has products in nutrition, skincare, and nutritional health supplements.
It labelled itself an “Australian brand and distribution company” in today’s presentation, with the mission of offering “innovative, sustainable Australian health and wellness brands throughout the world”.
Wellnex was formed following Wattle Health’s acquisition of Brand Solutions and Pharma Solutions Australia.
At the time of writing, it has a market capitalisation of $36 million.
Today’s investor presentation
Wellnex chief executive George Karafotias presented at the ShareCafe Small Cap “Hidden Gems” Webinar this afternoon.
Karafotias detailed how Wellnex intends to grow its market share, while highlighting the company’s existing brand portfolio.
The global health and wellness market was on display, which Karafotias explained is a $5.6 billion industry.
Attendees also observed the company’s growth vision, built on efficiency and revenue growth.
Wellnex’s top executive also gave FY 2021 guidance for consolidated revenue of $18.3 million, calling for 18% growth from FY 2020.
Investors pounced, driving the Wellnex Life share price higher.
Foolish takeaway
In summary, Wellnex will be a name to watch over the coming periods as it has been re-listed as of yesterday.
Already the Wellnex Life share price has had a choppy two days, however, investors seem to favour today’s presentation.
The post Here’s why the Wellnex Life (ASX:WNX) share price jumped 37% today appeared first on The Motley Fool Australia.
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More reading
- Why the Wellnex Life (ASX:WNX) share price is crashing 75% lower on Thursday
The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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