INQUEENSLAND article 23/12"For Queensland, it was the year of...

INQUEENSLAND article 23/12


"For Queensland, it was the year of the tech stocks. That was mirrored nationally, too. The All Technology Index jumped from 2018 to a peak on Dec 17 of 2921. Nothing did better than tech, not even iron ore stocks like Fortescue came close to a little “penny dreadful” in Eight Mile Plains, Anteotech, which has been developing battery technology and a virus detection kit.When it pivoted to refining its detection kit to COVID it made a major breakthrough in the sensitivity of its detection. Its claim is that it can detect the virus faster and sooner than anyone else.Until Ellume came along and received FDA approval in the US for its test kit, Anteotech was soaring. It fell 16 per cent the day of the Ellume announcement.Even so, its shares are up 230 per cent on the start of the year. That puts it close to Afterpay which reached almost 300 per cent for a product that is yet to make a profit. But before you start looking for the next big thing, Anteotech’s rise was from 3 cents to 10 cents. It is still very much a junior stock."