Pervasip Corp (OTCMKTS:PVSP) is down 11% in a week. The company has appointed German Burtscher as CEO and President of the company and its subsidiaries.
Trading Data
On Monday, PVSP stock ended flat at $0.0024 with more than 20.87 million shares, compared to its average volume of 23.92 million shares. The stock has moved within a range of $0.0021 – 0.0027 after opening trade at $0.0025.
Pervasip Appoints New President and CEO
Pervasip is a diversified assets management firm established to develop, acquire and support companies and techs in the cannabis sector. Its subsidiaries include Zen Asset Management LLC and Artizen Corporation. Burtscher has massive experience in driving start-ups’ establishment, management, financing, and growth in various sectors with extensive network and specialization in all cannabis growing and processing aspects from genetics to grow development to large-scale processing, operations, distillation, and sales, and marketing.
Former CEO and Chairman Paul Riss said that they are delighted with German’s appointment as the new CEO and president. Riss said that German has an amazing track record of performance and excellence in the cannabis sector, especially in Washington’s highly controlled market. He added that Artizen is a reputable consumer brand in the State of Washington, and ZAM’s over $14 million revenue is scalable with the right management and investment. Therefore investors should keep an eye on PVSP.
Key Quote
Paul Riss, Pervasip’s chairman and former chief executive officer, said, “We are extremely excited by the appointment of German as our new president and chief executive officer. German has a proven track record of excellence and performance in the cannabis industry, especially in Washington State’s highly regulated market. The Artizen brand is recognized as one of the most reputable leading consumer brands in Washington state, with tremendous consumer and retailer recognition. We believe that ZAM’s more than $14 million in revenue is very scalable with the right investment and management. We’re excited to have German as the tip of that spear for our shareholders.”
Technical Data
PVSP stock is trading in the oversold zone with RSI at 25. The stock has pivot supports at 0.0015, 0.0018, 0.0021 and resistances at 0.0027, 0.0030, 0.0033. The stock is down 51% in the past 3-month.
