Shares of nano-cap company Medigus Ltd. (MDGS) surged over 70% on Tuesday morning. MDGS is currently trading at $3.24, up $1.35 or 71.43%, on the Nasdaq.
Medigus, a medical device company, develops, produces, and markets minimally invasive endo-surgical tools and direct visualization technology in the United States, Europe, Asia, and internationally.
Medigus announced that it was informed by Smart Repair Pro, Inc. a data-driven e-commerce company operating on the Amazon Marketplace, that all of Amazon's required regulatory processes were completed, which allows for the opening of its store in 5 leading countries: UK, France, Italy, Germany and Spain.
Smart Repair Pro is preparing to launch its brands for the first time in the European and UK market.
Last week, Medigus agreed to buy a controlling interest in Smart Repair Pro, Inc. and Purex, Inc., two data-driven e-commerce companies, operating on the Amazon Marketplace.
According to initial information provided to Medigus, the companies' revenues target for 2020 is about $3 million with net profit of around 35%.
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