Neptune Wellness Solutions Inc (NASDAQ:NEPT) Stock Recovers: Company Announces New Appointment

There were a number of stocks which managed to clock notable gains on Thursday and one of the more notable gainers was the Neptune Wellness Solutions Inc (NASDAQ:NEPT) stock, which ended the day with gains of as much as 9%. The company is involved in the development of sustainable plant based lifestyle brands and yesterday it came into focus after it made a key announcement.

Trading Data

On Thursday, NEPT stock increased by 8.93% to $0.3050 with 5.70 million shares, compared to its average volume of 1.53 million shares. The stock moved within a range of $0.2900 – 0.3250 after opening trade at $0.2955.       

Neptune Appoints Julie Phillips as First Female Chair of the Board of Directors

The company announced yesterday that Julie Phillips, who had been a member of the board at Neptune Wellness, had been made the chairman of the board. It was a major new announcement from the company and it seems that the market participants were quite thrilled with the new appointment.

The President and Chief Executive Officer of the company Michael Cammarata spoke about the appointment as well. He stated that in her capacity a board member, Phillips had helped Neptune Wellness considerably through highly specialised guidance and also through the connections in the wider industry. It seems that it is an appointment that could eventually prove to be a major boost for the company. At this point in time, it may be a good move from investors to consider adding the stock to their watch lists.

Key Quote

“Julie has provided Neptune with valuable guidance and broad industry connections as a Board member and we are excited as she takes on a larger role in the strategic development of Neptune as our first female Chair,” said Michael Cammarata, Chief Executive Officer and President of Neptune. “Julie has the experience and forethought to ensure Neptune hits its operational milestones and remains focused on creating new opportunities for profitable growth while maintaining strong principles of ESG management. We continue to push towards achieving gender parity at Neptune, with women representing 45% of our workforce in what is historically a male-dominated industry.”

Technical Data

NEPT stock is trading below the 20-Day and 50-Day Moving averages of $0.34 and $0.38 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.73.