There were many stocks that managed to clock considerable gains on Monday and one of those was the EVIO Inc (OTCMKTS:EVIO) stock. The stock clocked gains of as much as 33% yesterday after the company announced yesterday that it signed a letter of intent with regards to the acquisition of Leading Age Pharms Inc.
Leading Edge Pharms is a biotech company which is based out of Henderson in Nevada and is involved with research, development and marketing of CBD based medicine delivery systems and therapies. The news of the possible acquisition has come as a source of major excitement among investors and it is going to be interesting to see if the stock can manage to add to its gains today.
It is also easy to see why considering the sort of work that Leading Age has been doing in recent times. The company has already come up with a product line of pain relief products named CANNAVERA and is currently awaiting approval from the United States Food and Drug Administration for over the counter registration. It is likely that the stock is going to be watched closely by investors over the coming days and it might be a good move to add EVIO to the watch lists.
Market Reaction:
On Monday, EVIO stock gained 33.33% at $0.0020 with more than 919.91 million shares, compared to its average volume of 86.60 million shares. The stock had moved within a range of $0.0014 – 0.0025 after opening the trade at $0.0015. Over the past 52-week, the stock has been trading within a range of $0.0010 – 0.0300.
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