One Letter Away, But 789% Returns: Japan Investors Buy Tella, Not Tesla
- Japan biotech venture is up 789% on surging retail sentiment
- Boom follows announcement of coronavirus treatment development
Photographer: Yuriko Nakao/Bloomberg
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Tesla Inc. might be hot, but the stock Japanese retail investors really want is just a letter away.
Tella Inc., a hitherto obscure biotech venture, is the bigger gainer this year by far out of any of the almost 4,000 companies listed on Japan’s main markets. It’s risen an astonishing 789%, with the stock surging ever since it announced it was teaming up with the Japanese arm of a Las Vegas-based anti-aging clinic to develop a coronavirus treatment.