This morning it is likely that the Phoenix Rising Companies (OTCMKTS:PRCX) stock is going to be in focus among investors after it had emerged as one of the notable gainers yesterday and clocked gains of as much as 8%.
Trading Data
On Thursday, PRCX stock moved up 8.70% to $0.0050 with more than 118.65 million shares, compared to a volume of 40.11 million shares. The stock moved within a range of $0.0050 – 0.0068 after opening trade at $0.0060.
Phoenix Rising Companies Announces MOU To Acquire Morpheus Robotics a Developer of Medical Aritificial Intelligence and Devices
The company came into focus yesterday after its Chairman and Chief Executive Officer, DS Chang announced that Phoenix Rising had been successful in completing the Memorandum of Understanding with regards to the acquisition of the outstanding shares in the firm Morpheus Robotics Inc. Morpheus is registered in Singapore but the company had actually originated in Italy and still has operations in the country.
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In this situation, it may be a good idea for investors to get a better idea about Morpheus. In the past few years, the company has been involved in the development of a wide range of medical technologies which are interrelated. The Medical Robotic System built by the company is truly a work of innovation as it combined a wide range of new-age technology including artificial intelligence and new-age medical imaging. At this point in time, it may be a good idea to add Phoenix Rising Companies to your watch lists and watch for further developments.
Key Quote
DS Chang, CEO of Phoenix said “This acquisition, if completed, represents a move towards Westernizing Phoenix with new acquisitions that offer a substantial possibility of the incredible growth of the company and its stakeholders”
Technical Data
PRCX stock is trading above the 20-Day and 50-Day Moving averages of $0.0047 and $0.0034 respectively. However, the stock is trading below the 200-Day moving average of $0.0185.
