Investors are almost always on the lookout for micro cap stocks that might be performing well and one of the stock from that category that seems to be in sharp focus at this point is that of Nutranomics Inc. Last week, the Nutranomics (OTCMKTS:NNRX) stock was in considerable focus among investors and delivered gains of as much as 45%.
While that may be the case, there was no news about the company that may have triggered the gains recorded by the stock. The last major news about Nutranomics emerged in May this year when it was reported that as per the annual report from the company dated October 13, 2020, it had successfully acquired the rights to the United States Patent number 7,235,390 B2.
The patent in question was for the Assimilation Enhancing System, which is meant for helping people with digesting nutrients. However, the company announced that after having gone through considerable analysis and market research, the company decided against renewing the rights to the aforementioned patent.
It was a major development for the company and it is likely that the update had been noticed by many investors. However, it is also important to note that it is unlikely that this development was responsible for the spike in the stock price last week.
Market Reaction:
On Friday, NNRX stock went down 6% at $0.0016 with more than 1.07 billion shares, compared to its average volume of 188.57 million shares. The stock had moved within a range of $ 0.0015 – 0.0022 after opening the trade at $0.018. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0033.
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