Progressive Care Inc (OTCMKTS:RXMD) Stock Continues to Move Lower: Down 17% in a Week

Shares of Progressive Care Inc (OTCMKTS:RXMD) continued to trend lower in the previous trading session after the recent fall.

Market Reaction

On Wednesday, RXMD stock gained 3.12% to $0.0331 with more than 501k shares, compared to its average volume of 1.33 million shares. The stock has moved within a range of $0.0322 – 0.0360 after opening the trade at $0.0322.

Latest News

Personalised healthcare services and technology firm, Progressive Care Inc (OTCMKTS:RXMD), announced that the firm has got access to significant inventory of Moderna vaccine doses and would be commencing distribution to PharmCo customers through both on-location as well as in-store vaccinations. The firm’s initial tranche shows enough vaccines for 2,000 people and the management opines that it would be able to get access to extra vaccine doses after exhausting initial supply.

Alan Jay Weisberg, CEO and Chairman of Progressive Care, said that the company feels confident on moving forward as an integral source of protection for residents in communities, especially the underserved communities.

Progressive Care is also looking to play a vital role in facilitating education of residents and customers of the surrounding communities on safety as well as importance of vaccinations.

The company also announced having an investor conference call at 4:30 PM ET on Monday, November 15, 2021.

Chairman and CEO, Alan Jay Weisberg said that the quarter three was challenging but also productive in the company’s history.

He added that the team was able to finish a complex deployment of pharmacy system and successfully executing record deliveries of COVID-19 testing revenues. Furthermore, Weisberg said that it has The Benchmark Company as the investment bankers and may be on Nasdaq in the near future.

Traders Review

RXMD stock is trading below the 20-Day and 50-Day Moving averages of $0.0384 and $0.0393 respectively. However, the stock is trading above the 200-Day moving average of $0.0708. The stock is down 35% over the past month.

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