This morning many investors are expected to keep an eye on the RushNet Inc (OTCMKTS:RSHN) stock this morning after it emerged as one of the biggest gainers so far and clocked gains of as much as 72% amidst frenetic trading.
The massive rally in the stock came about this morning after the company announced that it had actually canceled the reverse split that it had previously announced. That was a major development, however, in addition to that, RushNet also announced that in conjunction with its subsidiary companies, Grandeza Healthcare, and heliosDX, it was looking to grow its business to as much as $50 million in annual revenues. RushNet also noted that it will also open up considerable shareholder value if it is able to achieve that.
In addition to that, RushNet also made another announcement with regards to the sort of progress that it had managed to make regarding its major milestones and goals. RushNet announced today that the much-awaited audit into its books is going to be concluded soon after some small adjustments. While it is true that the company had in fact got a positive response from the audit, it now has to make a significant decision so that the long-term growth vision of RushNet is not compromised in any way.
It has been suggested that the previous version of the company is now in the past, however, its historical activities of the business are still associated with RushNet. Those activities from the past have actually proven to be major challenges for the new management that assumed control of the company not too long ago.
At this point in time, it may be a good idea for investors to consider adding the stock to their watch lists and looks for further developments over the course of the coming months.
