JZZ Technologies Inc. (OTCMKTS:JZZI) stock was under pressure and fell 4% in the previous trading session.
Trading Data
On Thursday, JZZI stock fell 5.38% at $0.0088 with more than 7.38 million shares, compared to its average volume of 14.29 million shares. The stock has moved within a range of $0.0084 – 0.0109 after opening the trade at $0.0099.
Enters Agreement for First Acquisition in Bioscience Sector with Life Extension and Longevity Products Venture
The company is pursuing biotech and bioscience sector acquisition with its maiden agreement to buy an Aliso Viejo, California-based longevity and life extension venture. JZZ’s management anticipates details on the venture’s products lines, oversight, and research to follow shortly.With the acquisition, the company will purchase a 100% stake in the new company, including exclusive therapeutic products license, proprietary compounds, and other novel natural compounds and therapeutics covered under an OIND program. JZZ Technologies will also access the human resources and personnel required for the current development to assist in the new research.
The venture’s focus is rapid therapeutic products commercialization. In addition, the company will use its marketing ability to develop well-choreographed complementing the rill out and other commercial applications for all products. CEO Charles Cardona said that the new biotech and biosciences sector acquisition would be a launchpad for JZZ Technologies’ ventures in the lucrative industry. With this acquisition, investors should watch JZZI.
Key Quote
Charles Cardona, CEO of JZZ Technologies, Inc., stated, “This new acquisition in the biotechnology and biosciences sector is a launch pad for our ventures in this very lucrative sector. There is a wide array of innovative technologies and breakthrough products that we can tap into in the human life extension and longevity areas. This first acquisition will showcase our ability to create exciting new products for specific markets and use the capabilities of our digital marketing platforms to maximize returns to our company.”
Technical Data
JZZI stock is trading below the 20-Day and 50-Day Moving averages of $0.0089 and $0.0093 respectively. Moreover, the stock is trading below 200-Day moving average of $0.0160. The stock is down 12% in the past 3-month
