HealthLynked Corp (OTCMKTS:HLYK) Stock Falls After Recent News

This morning many investors would be hoping for a recovery in many of the stocks which had fallen sharply this past Friday. One of the stocks that may be worth checking out today is that of HealthLynked Corp (OTCMKTS:HLYK), which ended up with a decline of as much as 8% last Friday.

Trading Data

On Friday, HLYK stock slumped 8.42% to $0.1000 with more than 120.40K shares, compared to its average volume of 173.31K shares. The stock moved within a range of $0.0900 – 0.1100 after opening trade at $0.0900.

HealthLynked Announces Upgrades to its MedOfficeDirect Ecommerce Site for Discount Medical Supplies

The company, which is involved in providing healthcare technologies to the sector at large, announced on Friday that it had released the upgraded version of the ecommerce platform MedOfficeDirect. The platform in question offers medical supplies at discounted prices. The company upgraded the platform to the latest version of Magento (v2.4.2), which is an ecommerce engine.

The new upgraded version of the platform is expected to be highly beneficial to customers. It is going to provide a much better search engine and hence provide a shopping experience that is going to be considerably improved. In addition to that, products have been grouped under certain parameters like manufacturer, size, type, price, color and others. Since many medical supplies vary in terms of color and size, it would make it much easier for users to search for the specific products that they may be a looking for.

Key Quote

Dr. Michael Dent, Chairman and Chief Executive Officer stated, “The upgrade to version 2.4.2 is a significant to our ecommerce platform and will allow us to work strategically with partners in expanding our customer base.  We currently offer significant savings on over 6,000 name brand medical supplies. MedOfficeDirect offers the lowest price online for medical supplies due to direct fulfillment and low overhead savings that we pass on to our customers.  We are excited that this new platform will allow us to develop strategic partnerships to greatly expand the number of customers we can serve.”

Technical Data

HLYK stock is trading below the 20-Day and 50-Day Moving averages of $0.11 and $0.13 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.20. The company has a total market capitalization of $4.60 million.