2021 is still developing in negative territory for most of Argentina’s stocks and bonds. Just as doubts remain about the strength of the rebound in the economy, with a second wave of COVID-19 infections, the same uncertainty is transferred to financial assets that are traded on the local and foreign stock markets.
In this aspect, there is a title that stands out: that of the biotechnology firm Biocers, whose ADR accumulates a gain of 99.5% on Wall Street so far this year. This noon it advanced 6.5% and was traded at $ 12.37.
To graph this rise, it can be said that the title of Bioceres rises more than Bitcoin, an undoubtedly winning bet in 2021, whose price -with ups and downs and wide volatility- gains 99.3%, today close to $ 57,800.
Bioceres ADR doubled in value on Wall Street in 2021
Bioceres Crop Solutions (”BIOX“On the Nasdaq) is a” fully integrated provider of crop productivity solutions designed to enable the transition of agriculture to carbon neutrality “, as defined by the company itself.
For a month the action of Bioceres can also be operated in the Buenos Aires Stock Exchange, through a Cedear (Argentine Deposit Certificates), which are financial assets with local operations, which represent ordinary shares of companies that are listed abroad.
The Cedear are operated both in pesos and in dollars (at the exchange rate “counted with settlement”), although it is worth noting that currently the largest volume of operations is in pesos. Bioceres traded at 1:00 p.m. $ 3,748, up 7% on the day.
Market sources commented to Infobae that “the company comes with a very good sales performance in the local market and abroad. In the last edition of Expoagro, his commitment to the development of the HB4 technology and its imminent introduction in Argentina. And the cPurchase by Boiceres of part of Moolec’s shares, a North American alternative protein company. That set of novelties is being validated in a recent upload of actions”.
Bioceres made headlines on March 16, when the company’s ADR rose more than 60% at the opening of operations in New York, after announcing the purchase of shares of Moolec, a company that develops the production of alternative proteins that do not involve the slaughter of animals.
Bioceres is an Argentine biotechnology company, whose stock is traded on Wall Street and, recently, on the local Stock Exchange as Cedear
Bioceres signed definitive agreements for the acquisition of a 6% stake in Moolec Science Limited, a molecular agriculture company that pursues a hybrid concept between plant and cell technologies.
In March he announced that his subsidiary Rizobacter Argentina SA completed a public offering of corporate bonds $ 26 million, funding that will be used to support working capital, extend debt maturities and reduce financing costs, as well as for general corporate purposes.
When that placement was made a month ago, Enrique Lopez Lecube, Bioceres CFO, pointed out that “this issuance is aligned with our general strategy to further stabilize the debt structure by extending maturities and continuing strengthening our liquidity position. With this transaction we also ensure the working capital requirements to continue advancing our ‘Generation HB4’ efforts, as well as to expand the global footprint of our key biologics. “
The “HB4 Generation” is a collaborative linking program that aims to encourage agricultural producers to produce wheat and soybean seeds with the HB4 gene, what gives them tolerance to situations of water stress and salinity.