If there is one industry that has grown by leaps and bounds in recent times then it is the medical device industry and it is only natural that more and more investors are now looking for options in the sector. One of the companies in the medical device industry that you could look into this morning is RemSleep Holdings Inc (OTCMKTS:RMSL).
On Friday, RMSL stock gained 10.55% to $0.0187 with more than 19.15 million shares, compared to a volume of 19.06 million shares. The stock moved within a range of $0.0166 – 0.0190 after opening trade at $0.0170.
About The Company
RemSleep Holdings is involved in revolutionary treatments that are meant to take care of those who suffer from Sleep Apnea. The company is involved in both designing as well as manufacturing such devices that can help patients with Sleep Apnea and other respiratory conditions. The company has also managed to put together a management team that has combined experience of more than 3 decades in CRAP therapy.
RemSleep Holdings Inc. Submits Application For Uplisting to OTCQB
This past Friday, the RemSleep stock had come into sharp focus among investors after it a major development and it led to a rally in the stock that saw it end the day with gains of as much as 10%. Back on June 10, the company announced that it had been successful in filing an official application for uplisting its stock to the OTCQB.
The news about a stock uplisting to a bigger exchange is almost always a positive piece of news and the market reacted accordingly. It was also announced that a decision with regards to the application was going to be reached within a matter of three to four weeks. It should be noted that an OTCQB uplisting is going to result in higher transparency, more strident reporting standards, more possibilities for analyst coverage, and exposure to institutional investors.
In this regard, it is necessary to remember that the OTCQB is regarded as an ‘established public market’ by the United States Securities and Exchange Commission.
The company is currently listed on the OTC Pink market and that particular market does not have as great a reputation. Hence, the uplisting could help RemSleep in opening up more value for its investors. At this point in time, it would be interesting to see if the stock can manage to add to its gains this week or not.
“Uplisting to the OTCQB® will assist our company in providing greater shareholder value by allowing us to achieve greater market visibility, expand our potential prospective investor pool, greater share price stability, along with increased trading liquidity within the investment community. We look forward to broadening our company exposure to a larger and more diverse demographic of both domestic and international investors,” stated Tom Wood, RemSleep CEO.
RMSL stock is trading below the 20-Day and 50-Day Moving averages of $0.269 and $0.0236 respectively. However, the stock is trading above the 200-Day moving average of $0.0184.