Iconic Labs PLC (LON:ICON) soared on Wednesday after announcing its service to counter misinformation about the coronavirus pandemic has reached 1 mln readers in a week.
The website was established last week in partnership with MP Damian Collins, former chair of the Parliamentary Committee on Culture, Media and Sport and is receiving support from governments and organisations.
READ: Iconic Labs launches fact checking service to counter coronavirus misinformation
Infotagion allows users to post screenshots of information seen on social media or elsewhere, which is then fact-checked by Collins and a team of experts.
The online publisher said Infotagion was covered in more than 70 pieces of individual news published by major UK news outlets including the BBC, ITV, Daily Mail, WIRED, Yahoo, radio and local and specialist news sites.
“To receive such a response in such a short period of time just goes to show how important this service is to the public,” Iconic Labs’ chief executive John Quinlan said in a statement. “The support has been unprecedented and the platform is growing day by day.”
In response to the news, Iconic Labs' shares soared 73% higher to 0.032p on Wednesday morning.