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The Run On Lakeland Industries, Inc. (NASDAQ:LAKE) Will Not Persist

Boston, MA 10/07/2014 (wallstreetpr) – Lakeland Industries, Inc. (NASDAQ:LAKE) has gained 14% in today’s trading session. The surge is from the news of disease Ebola detected in a patient in the U.S.

The disease came from a person who visited on September 20his family in Dallas, Texas. He was discharged from the hospital when his symptoms were similar to the common viruses. On further tests it was confirmed that the patient was suffering from Ebola.

The Ebola outbreak in West Africa has engulfed 3,000 lives of the 6,000 infected people. This is a deadly virus and now it has travelled to the U.S.

There is no approved treatment for Ebola currently. As a precautionary measure the infected person and the people who came in contact with that patient, needs to be quarantined.

Lakeland Industries, Inc. (NASDAQ:LAKE) manufactures personal protective clothing. The market is anticipating the hazmat suits manufactured by Lakeland Industries, Inc. (NASDAQ:LAKE) will have a great demand with increasing cases of Ebola. The hazmat suits are used by health workers who treat the patient suffering from Ebola. The U.S. State Department has bid for approximately 160,000 hazmat suits, following the news of the first case of Ebola in the U.S.

The run on the stock of Lakeland Industries, Inc. (NASDAQ:LAKE) will not persist since the patient and the people who came in contact with the patient have been quarantined.

Recently, Lakeland Industries, Inc. (NASDAQ:LAKE) had announced the expansion of its facilities in China and Mexico. It also announced the availability of its protective apparel across the globe which will be used in taking care of patients infected with Ebola virus.

Lakeland Industries, Inc. (NASDAQ:LAKE)’s competitor E I Du Pont De Nemours And Co (NYSE:DD) is trading down by 1.47% to $69.13. E I Du Pont De Nemours And Co (NYSE:DD) has also tripled its production or Ebola protection items. 

Another competitor Kimberly Clark Corp (NYSE:KMB) is up by meagre 0.46% to $107.32.

Published by Neha Gupta

Swati has worked in diverse capacities from financial research to currency trading in a span of 3 years.

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