At this point in time, Nutra Pharma Corporation (OTCMKTS:NPHC) is one of the well-known names in the over the counter pain management space and in recent times, its stock has experienced a certain degree of volatility.
On Friday, NPHC stock slumped 50.77% to $0.0019 with 71.32K shares, compared to its average volume of 1.77 million shares. The stock has moved within a range of $0.0018 – 0.0039 after opening trade at $0.0018.
Last Friday, the stock seemed to be in free fall and went down by as much as 50% after the company provided a key update. At the same time, it is also necessary for investors to keep in mind that the stock is still up by 30% over the past week despite Friday’s selloff.
The update was with regards to the plans that the company is going to put into action in order to bring about an improvement in transparency and compliance. Those are both important things for any public company but the update was not welcomed by investors and that was apparent in the frenzied selloff in the Nutra Pharma stock.
The company had been delinquent with regards to its filing responsibility as a result of the after effects of the coronavirus pandemic and that had been noted earlier by Nutra Pharma as well. The Chief Executive Officer of the company, Rik J Deitsch, stated that Nutra Pharma has been working on getting its filings in order throughout the course of 2021 so far.
NPHC stock is trading above the 20-Day and 50-Day Moving averages of $0.0024 and $0.0027 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0055. The stock is down 21% over the past 3-month.