Rushnet Inc (OTCMKTS:RSHN) Surges 68% on Account of Moving to Pink Current

Rushnet Inc (OTCMKTS: RSHN) finished at $0.0093 yesterday, jumping 68%. Its previous close had been $0.0055, while its usual day range is $0.0058 $0.0096. The market capitalization of this OTC stock is $39.50 million, and its average share trading volume is 480.76 million. There were much lesser shares trading in the market in its last trading sessions, 8.6 million to be precise. Headquartered in Delaware, United States, the company is known for its top-quality CBD edible products. Moves to Pink current

The company recently announced that it has successfully filed the Attorney Letter for the period finalizing on December 31, 2019, and 2020 to transition towards Pink Current. In the days ahead, the company is expecting to move towards a Yield sign, now that it has satisfied all requirements for the process. During its relocation to the Pink Current, OTCMarkets shall be conducting the review for filings. New products in the pipeline There have been strategic changes in the past. In 2019, Rushnet had acquired StopDrops Inc.’s assets, one of its largest competitors. Post that acquisition; the company had also acquired rights for all nicotine cessation and nicotine-free smoking products. This came at the perfect time when the pandemic had just hit the world, and nicotine addiction was at an all-time high. The new product line brought additional value to the existing shareholder base. The two companies had, however, continued to work separately due to strategic reasons. StopDrops is a company that is known for natural, nicotine-free lozenges meant to bring down the craving for cigarettes or nicotine. This opportunity had given Rushnet a significant boost. Over the previous week, the stock has remained in the green zone with its share price in the range of $0.0066-$0.0093, inching closer to a dollar. In the after-hours yesterday, this stock went up 0.54% with the same share price.

Emily Rodriguez

Leave a Reply

Your email address will not be published.