The past few days have been quite good for investors in BioLife Sciences (OTCMKTS:BLFE) investors if the price action in the stock is anything to go by. Yesterday, the stock continued on its upward move and ended the day with gains of 7%. That took the gains made by the BioLife stock to as much as 45%.
Trading Data
On Tuesday, BLFE stock moved up 6.68% to $1.03 with more than 1 million shares, compared to its average volume of 686K shares. The stock has moved within a range of $0.9200 – 1.1400 after opening trade at $0.99.
Signs LOI with Health Box LLC
The company was in the news cycle yesterday after it announced that it had gone into exclusive negotiations with the Arizona based firm Health Box LLC. In this situation, it may be a good idea for investors to take a closer look at Health Box and its business.
BioLife has already signed a letter of intent in relation to the potential 100% acquisition of Health Box. Health Box is a orthomolecular and natural health products firm which has done considerable research.
Some of its research endeavours include medicinal botanicals, dietary supplements, proprietary herbal blends and micronutrients among others. The possibility of an acquisition has led to a degree of optimism among investors and that was probably at play yesterday. It is going to be interesting to see if the BioLife stock can manage to add to its gains today.
Key Quote
“An acquisition of Health Box LLC would position BioLife Sciences as a disruptive entity within a booming market. The company would become uniquely positioned to reach consumers who are seeking safe, natural, holistic approaches towards proactive self-care and treating or preventing certain symptoms and illnesses through the use of natural supplements. Health Box LLC would offer the company instant access to meaningful revenue, an existing customer base, subject matter expertise, and innovative breakthroughs,” Mr. De Four said.
Technical Data
BLFE stock is trading above the 20-Day and 200-Day Moving averages of $1 and $0.52 respectively. However, the stock is trading below the 50-Day moving average of $1.11. The stock is up 69% in the past month.
