While the dollar value was small, ABN Amro Craigs broker Peter McIntyre said since last week's "bullish" annual general meeting in Dunedin the stock volumes traded had been significantly higher - at 455,000 shares traded on Friday, 360,000 on Monday and 180,000 by noon yesterday.
Last week, shareholders were told at Blis' annual general meeting in Dunedin the company's focus was shifting from providing finished probiotic products to supplying branded ingredients, meaning production and marketing costs were the responsibility of the product maker, not Blis.
"The upbeat tempo at the annual general meeting is the primary reason for the gains," Mr McIntyre said yesterday.
Blis, whose flagship oral health product is Blis K12, reported earlier the year revenue was up 31% to $1.1 million and last week said two significant global companies were evaluating and trialling products, possibly for licensing agreements.
In May, having earlier raised $3.5 million of additional capital from Edinburgh Equity Nominees and a renounceable rights issue, Blis booked a loss of $488,000 for the year to March, compared with a $617,000 loss for the same period the year before.
