While the Ebola virus is causing concern among many across the globe, it may present a win-win situation for certain entities.
One company expected to benefit from this crisis is Lakeland Industries, a safety workwear maker that saw a 17 percent increase in its shares Tuesday, according to The New York Post. This spike could be a sign of what Wall Street expects to be a bull market in hazmat suits.
The win-win scenario for Lakeland would be that it is protecting people from this deadly virus and experiencing great financial gains from it. The Ronkonhoma, NY-based company recently said on its website that its suit can keep wearers safe from Ebola, among similar threats. The statement follows a month after the organization made its hazmat suit available to everyone around the world, which resulted in an increase in Lakeland's shares on Oct. 1st by 30 percent.
Lakeland's share spike occurred on the same day that a medical worker in Spain tested positive for the virus, causing major concern throughout the country, The New York Post reported. Spanish authorities are currently keeping track of three more possible Ebola cases.
In addition to an increase in shares, Lakeland saw a doubling in its operating profit to $2.05 million in the six months ended July 31st. The company shares so far for this year are up 91 percent.
