RushNet (RSHN) Stock Sees Profit Booking After The Rally: Now What?

There have been many stocks which have managed to record considerable gains this month so far but there are very few which can actually match the sort of gains that have been generated by the RushNet Inc (OTCMKTS:RSHN) stock.

While it is true that the stock declined yesterday by 15% on the back of some profit taking from investors, it should be remembered that the stock has clocked gains of as much as 700% over the course of the month so far. The stock has been in focus ever since it emerged that the company was going to acquire heliosDX.

Last week, the company announced that transaction with heliosDX has been completed. However, the transaction is only going to be closed after heliosDX get the pink current status from the OTC markets after fulfilling all the auditing conditions. After the closure of the transaction, RushNet is going to spin itself off and heliosDX as well into two separate public traded companies.

More importantly, the heliosDX spinoff is also going to be beneficial for RushNet investors since they are going to be rewarded with 12 shares of the spun off company. Considering the magnitude of the gains, RushNet is a stock that could now be tracked.

Market Reaction:

On Monday, RSHN stock fell 15% to $0.0085 with more than 976.47 million shares, compared to  its average volume of 234.91 million shares. The stock has moved within a range of $0.0075 – 0.0127after opening the trade at $0.0120. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.0249.

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