It is almost a certainty that most investors are going to be focussed on the NutraNomics Inc (OTCMKTS:NNRX) stock this morning owing to the fact that it had emerged as one of the biggest gainers yesterday after having clocked gains of as much as 75%.
Trading Data
On Tuesday, NNRX stock soared 75% to close at $0.0003 with more than 358.52 million shares traded, compared to its average volume of 180.38 million shares. The stock has moved within a range of $0.0003 – 0.0004 after opening trading at $0.0003.
NutraNomics, Inc. Guidance Regarding Pending Acquisition of DHS Development, Inc. dba The Plant
In this situation, it is important for investors to figure out if the rally is going to continue or if there is going to be a correction. To have a better idea, one needs to look into the development that led to this rally. The company provided some guidance yesterday with regarding to the acquisition of the company DHS Development Inc, which is still pending.
The company announced yesterday that the capital investment that it is going to make is going to be focussed on facility and equipment development. In turn, such an investment is going to help with the production of some of the core products like Crude, Vape Cartridges, Distillates, Pre-Rolls and Flower among a host of others. It was a significant announcement from the company and the excitement among investors is perhaps understandable.
However, it will be interesting to see if the NutraNomics stock can manage to actually hold on to its momentum today.
Key Quote
“Through our strategic capital investment into critical elements of our manufacturing and cultivation operation, we are committed to the principles of optimal quality and cost-efficiency. Our intelligent verticalization plan not only sets a solid foundation upon which to produce top quality products for our valued customers, but allows us to evolve our 27,000 sq. ft. production facility into other areas of unique product differentiation in conjunction with the addition of our 30,000 sq. ft. state-of-the-art cultivation operation,” says Jonathan Bishop, NutraNomics’ CEO.
Technical Data
NNRX stock is trading above the 20-Day and 50-Day Moving averages of $0.0003 and $0.0003 respectively. However, the stock is trading below the 200-Day moving average of $0.0008.
