At the beginning of another trading week, it is time for investors to take a look at some of the stocks which moved in a big way, one way or another in recent days.
One of the stocks that could be worth looking into at this point in time is of REMSleep Holdings Inc (OTCMKTS:RMSL), which has recorded steep declines in recent days. The stock was in the middle of another round of selloff this past Friday as it ended up with a decline of as much as 10%. That took the total decline recorded for the whole week to as much as 32%. In light of such a steep fall, it could well be a good time for investors to perhaps take a closer look at REMSleep Holdings and try to figure out if the stock could actually make a recovery this week or not.
Trading Data
On Friday, RMSL stock fell 9.8% to $0.0230 with more than 10.87 million shares traded, compared to a volume of 16.49 million shares. The stock moved within a range of $0.0205 – 0.0268 after opening trading at $0.0265.
About The Company
First and foremost, it should be noted that REMSleep Holdings is an innovative company that is involved in the development as well as distribution of products that are supposed to help people who suffer from sleep apnea. Its products are distributed throughout the world. One of the products that it offers to patients suffering from sleep apnea is the DeltaWave CRAP interface device.
The company not only serves medical groups and hospitals, but also home care operators, individuals, physicians, and sleep labs among others. The company is based out of Tampa in Florida. As a matter of fact, the company was in the news this past Friday after it made a key announcement.
RemSleep Holdings Inc. Engages New Senior Director for Regulatory Compliance and New Regulatory Testing Company
REMSleep announced on July 22 that it had retained the services of one of its former directors for the purpose of steering through the Regulatory Compliance and Regulatory submissions that are going to be made to the United States Food and Drug Administration. By way of these submissions, REMSleep is going to seek clearance from the agency, for marketing its medical device respiratory products. However, that is not all.
It was also announced that the company had also engaged the services of a regulatory testing company. The former director and the testing company are going to collaborate in the efforts to take REMSleep through the testing processes and the final submission of the product. The product in question is the DeltaWave Nasal Pillow Mask.
While the news may have been seen as a positive by many investors, it should be noted that the product in question has been going through considerable regulatory setbacks over the course of the past two years.
Although REMSleep has hit certain milestones in this journey, there have been many setbacks as well and it is now going to be interesting to see if the stock can make a comeback in the coming days. However, it could be a good idea if investors consider keeping an eye on the further developments on this front before making a move one way or another with regards to the REMSleep stock.
Key Quote
Tom Wood, CEO and Product Designer for RemSleep commented further, “Throughout the challenges we have faced in this process, one thing has stood out: the need for seasoned experts for medical class II respiratory devices for testing, validation, compliance, and FDA 510k resubmission.
Technical Data
RMSL stock is trading above the 20-Day and 50-Day Moving averages of $0.0280 and $0.0266 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0266. The company has a total market capitalization of $33.62 million. The stock is up 3% over the past month.
