Yesterday Hollister Biosciences Inc (OTCMKTS:HSTRF) announced the appointment of two new individuals to its board of directors and while the announcement was an important one, it did not do much for the company’s stock.
The Hollister stock has been performing poorly for the past few days and is currently down by 7% over the course of the past week. However, it is still important for investors to take a closer look at the announcement made by the company yesterday. The individuals who were inducted into the company’s board of directors were Jakob Ripshtein and Kevin Harrington.
Both of them are well quite well known Harrington is a seasoned Chief Executive Officer and author, who is best known for his work with the reality television show Shark Tank. He has worked with a number of companies over the course of his career and could bring a new perspective to Hollister in his capacity as a board member.
On the other hand, Ripshtein was once the President of Aphria, one of the biggest cannabis companies in the industry and his proven track record as a seasoned executive is another factor that could prove to be a major positive for Hollister.