SIGA Technologies Soars 2.23% on FY24 Growth

SIGA Technologies (SIGA) has surged by 2.23%, marking its third consecutive day of gains, with a cumulative increase of 4.73% over the past three days.

The strategy of buying SIGA shares after they reach a recent None and holding for 1 week resulted in poor performance over the past five years. The strategy yielded a return of -34.94%, significantly underperforming the benchmark return of 45.97%. The excess return was -80.92%, and the CAGR was -16.88%, indicating substantial losses. The strategy also had a high maximum drawdown of -52.26% and a Sharpe ratio of -0.39, suggesting significant risk and negative returns.

The primary driver behind the recent fluctuations in SIGA Technologies' stock price is the announcement of another year of top-line growth in FY24. This growth is attributed to substantial deliveries of TPOXX to both domestic and international markets. This development underscores the company's robust financial performance and hints at potential future growth, which can positively impact investor sentiment and stock price.