While the market remains largely volatile, there are a number of companies that saw their stocks soar on Thursday and one of those was Active Health Foods Inc (OTCMKTS:AHFD), which saw its stock clock gains of as much as 50% amidst heavy interest.
Trading Data
On Wednesday, AHFD stock soared 50% to $0.0009 with more than 344.95 million shares, compared to a volume of 54.09 million shares. The stock moved within a range of $0.0006 – 0.0010 after opening trade at $0.0007.
Active Health Foods, Inc. Adds Respected Medical Doctors To Board Of Directors
The company had been in the news not too long ago after it completed the acquisition of Bioidentical Hormones Inc as well as its subsidiary unit Australia Menopause Centre. On the other hand, it has continued to work on the further development of its skin care-related subsidiary unit Etmi Cosmetics. The company is broadly involved in the anti-aging medicine and healthcare industry. In light of the latest rally in the stock, it may e a good idea for investors to look into the announcement that actually triggered the remarkable rally.
The company hit the news cycle yesterday after it announced that it had made Dr. Gary Aaron the latest entrant to its Board of Directors and was also made the Chief Executive Officer. The appointment went into effect immediately. Aaron is based out of Australia. The appointment of a new CEO is almost always massive news for any company and it appears that investors gave the move from Active Health Foods the thumbs up if the price action in the stock is anything to go by. It should be noted that Aaron is actually a director and the Chief Medical Officer of the company’s Australian subsidiary unit Bioidentical Hormones.
However, that is not all. The company made an announcement about another key appointment yesterday. The company announced that Dr. Thierry Hertoghe had been made the Chairman of the Scientific Board of Directors of Bioidentical Hormones. It should be noted that both these individuals are highly regarded doctors and also hold considerable shareholding in the company. At this point in time, Aaron and Hertoghe hold a combined 22% stake in Active Health Foods. The appointments seem to have brought in a wave of optimism for the stock and it is going to be interesting to see if this momentum can last over the next few days.
Key Quote
Joe Wallace, AHFD’s President stated, “The participation of these highly respected Anti-Aging Medical Doctors in guiding the Active Health business plan as it expands around the world, is invaluable. Their more than 35 years of expertise in treating patients with BHRT and training other Anti-Aging Doctors, as Senior Management of BIO, will ensure the quality and efficacy of our products and services to BIO’s patients”.
Technical Data
AHFD stock is trading above the 20-Day and 50-Day Moving averages of $0.0006 and $0.0007 respectively. However, the stock is trading below the 200-Day moving average of $0.0011.
