InnnerScope Hearing Technologies Inc. (OTCMKTS: INND) was up 7%, announcing that its affiliate HearingAssit has unveiled branded hearing devices and associated supplies on RiteAid.com.
Market Reaction
On Tuesday, INND stock moved up 8.06% to $0.0067 with 36.64 million shares, compared to its average volume of 25.78 million shares. The stock moved within a range of $0.0062 – 0.0080 after opening trade at $0.0076.
InnerScope Hearing Technologies (OTC: INND) Launches HearingAssist Brand of Hearing & Related Hearing Aid Care Products on RiteAid.com
The company initially launched HearingAssit’s hearing aid batteries and hearing care, removal ear spray, ear wax, and a Wireless Neckband TV Listener Hearing Amplifier. With the anticipated over-the-counter Hearing Aid Law being pursued by legislators to be enacted soon, it allows selling OTC-approved hearing gadgets without prescriptions at big-box stores and pharmacies.
HearingAssist and InnerScope management teams have successfully forged connections with big pharmacy chains and retailers to assist in establishing a new hearing healthcare section in every store. Furthermore, the newly formed hearing healthcare classifications have enabled HearingAssist and InnerScope, before the OTC Hearing Aid Law, to provide a variety of hearing-related merchandise on the internet sites of numerous leading retailers, including previously unavailable Personal Sound Amplifier Products (“PSAPs”). Therefore, in the coming weeks, investors should keep an eye on INND.
Key Quote
“The management teams of HearingAssist and InnerScope are proud to offer HearingAssist Products for all Rite Aid customers,” stated Matthew Moore, President and CEO of InnerScope Hearing Technologies. “The launch of HearingAssist Products on RiteAid.com increases InnerScope’s and HearingAssist’s market penetration and brand recognition ahead of the OTC Hearing Aid Law. In addition, the management teams of InnerScope and HearingAssist have helped guide retailers to offer a new hearing healthcare category, which has allowed us to be the first (and in many cases) the only company to currently offer hearing products and related hearing aid supplies on the retailers’ websites ahead of the OTC Hearing Aid Law (which includes for many retailers InnerScope’s in-store Self-Check Hearing Screening Kiosks & Online Hearing Screening Check). When the OTC Hearing Aid Law becomes enacted, InnerScope and HearingAssist, having already established a distribution retailer network, will emerge as one of the leading OTC hearing aid companies.”
Traders Review
INND stock is trading below the 50-Day and 200-Day Moving averages of $0.0069 and $0.0111 respectively. However, the stock is trading above the 20-Day moving average of $0.0061.
