While it is true that there was no fresh news about Rennova Health Inc (OTCMKTS:RNVA) this past Friday, the stock was on the move in a big way and ended up with gains of a staggering 300%. In light of such gains, it may be imperative for investors to consider taking a closer look at the stock.
On Friday, RNVA stock jumped 300% to $0.0002 with 3.99 billion shares, compared to its average volume 173.68 million shares. The stock moved within a range of $0.0000 – 0.0002 after opening trade at $0.0001.
The last time the company was in the news was back on September 14, 2022 when Seamus Lagan, the Chief Executive Officer of the company went to the Stock Day Podcast for a chat with the host Everett Jolly. During the course of the chat, he spoke extensively about the company’s business and the plans for the future.
Such interviews often provide vital information and cues for investors to act upon. The interview started with the improved revenues and financial situation at the company in the latest fiscal quarter.
The CEO noted that the improvement had been brought about by the hospital operations of Renova Health and he added that the particular business was going to be profitable in the coming periods. Although legacy debts and liabilities, remained, Lagan noted that considerable improvement had been made on those fronts in the past year.
RNVA stock is trading above the 20-Day and 50-Day Moving averages of $0.0001 and $0.0001 respectively. However, the stock is trading below the 200-Day moving average of $0.0005.