Healthcare Trying to Stay Alive

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Wednesday, September 23, 2020

Today has been an interesting day of trading to say the least. With the S&P 500 opening up just a tad from yesterday’s close, in midafternoon trading we’re seeing a -1.7% selloff. As one could likely expect on such a sharp turnaround, all major sectors are trading negative.

On today’s selloff, healthcare is shedding the least of its morning gains, currently trading down only -.50%. While not an extraordinary move, there are a couple of outliers worthy of mention.

The Good, The Bad, and The Newsworthy

While the sector is trying to hold on, American CryoStem Corporation (OTC-PNK:CRYO) has been able to hold on to this weeks’ gains trading up $.106 to $.496/share for a 27% gain in early trade, only to give a decent chunk of the early gains back during the selloff. This overall upward continuation comes off news that the FDA has cleared its new Drug for Post-Concussion Syndrome for Phase I Clinical Trial. 

HearAtLast Holdings Inc. (OTC-PNK:HRAL) followed in the sectors’ footsteps and sold off significantly in later hours, down -$.0021 to $.115/share (-15.44% DoD). It is important to note however that this steep drop occurred on roughly 15% of the volume normally traded, so one could look at illiquidity to be a potential major factor in this underperforming security.

Glucose Health, Inc (OTC-PNK:GLUC) made headlines today as it unveiled a Diabetic Friendly “enhanced water” drink mix consumer packaging. While not exactly groundbreaking, investors appear to be convinced the newly attention-grabbing labeling will draw consumers to the product in stores as shares trade up $.07 to $1.35/share for a nice 5.5% gain. 

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