The Bellamy's Australia Ltd (ASX: BAL) share price is up 6.2% to $7.68 at the time of writing – a welcome surge for shareholders who have watched the shares drop in price steadily since March.
Investors with interests in stocks rattled by US and China trade wars have had a nail biting few months as share prices for the likes of Bellamy's, A2 Milk Company Ltd (ASX: A2M) and Treasury Wine Estates Ltd (ASX: TWE) have taken a beating.
So what's behind Bellamy's sudden surge back upwards today?
Bellamy's recent AGM report underlined its strong balance sheet, with no debt, $88 million in cash and $39 million in supply chain investments.
It's progressing well on the SAMR registration of its Chinese-label formula, but while it has no firm date for approval, investors fears can at least be allayed by its progression.
For now, investors can hold out for further news on Bellamy's investor day on November 29 when details of its $500 million FY21 revenue ambition will be revealed.
