Yesterday, the Novo Integrated Sciences (NASDAQ:NVOS) stock managed to make a bit of a recovery after having performed poorly for the past week and managed to end the day with gains of 5%.
However, at the same time, it is perhaps also important to keep in mind that the Novo stock is still down by as much as 11% over the past week. The company is involved in providing health and wellness by way of a varied healthcare ecosystem. Yesterday the company was in the news after it announced that it signed a 10 year licensing deal with Performance Inspired Nutrition through its subsidiary company Acenzia Inc.
The licensing agreement is related to the manufacturing as well as distribution of a range of Performance Inspired Nutrition products. Some of those products include vitamins, natural supplements, proteins and other nutritional products. Performance Inspired Nutrition was cofounded by the famous Hollywood actor Mark Whalberg and seeks to push people to have a healthier life through natural products.
The licensing agreement has clearly come as a boost for Novo and the reaction of the investors to the deal is an indication of that. It remains to be seen if the stock can maintain the momentum through the end of this week.