Canadian soap company spikes 164% this week as demand for hand sanitizer soars amid COVID-19 pandemic
Drew Angerer/Getty Images
- A Canadian soap company soared 164% this week after the company reported earnings that showed increased demand for its soap and hand sanitizer products amid the COVID-19 pandemic.
- Acasta Enterprises said in its earnings release on Tuesday that revenue more than doubled to C$98 million in the quarter, while earnings rocketed 736% compared to the prior year.
- Acasta Enterprises was originally a SPAC, or "blank check" company that acquired Apollo Health & Beauty Care in 2016.
- Visit Business Insider's homepage for more stories.
Talk about being at the right place, at the right time.
One company that's clearly benefiting from the COVID-19 pandemic is Acasta Enterprises, a Canadian company that sells soap and hand sanitizer.See the rest of the story at Business Insider
NOW WATCH: Why thoroughbred horse semen is the world's most expensive liquid
See Also:
- The CEO of an $815 million ETF provider explains how to build the perfect portfolio for today's market using just 3 low-cost funds
- Billionaire investor Paul Tudor Jones famously earned a 4-year streak of triple-digit returns. Here are the 7 trading rules he lives by after suffering a devastating loss.
- GOLDMAN SACHS: These 24 single-stock trades can help you make big returns in August as the pandemic creates a wildly unpredictable back-to-school season