Nuvilex, Inc. (OTCMKTS:NVLX) Pushes Up
Nuvilex, Inc. (OTCMKTS:NVLX)’s stock has had a general upward direction lately, despite the periods of descent. It slid for quite some time after the latest paid promotional campaign ended in the beginning of the month, but things have started to become quite oprimistic recently.
On February 19, the company entered into a material definitive agreement with Lincoln Park Capital (LPC) for purchasing restricted shares of NVLX stock in exchange of a $27 million funding that will come in phases.
NVLX has since started to climb the charts quite fast and had gained a total of 76% by the end of last week. The company is talking non-stop about the funding and the trust it has received from LPC, who also invested in Elite Pharmaceuticals, Inc. (OTCBB:ELTP) in April 2013 with ELTP gaining a total of 500% in price since then.
We were also informed that the first tranche of $2 million has already been made at the exchange of 8 million restricted shares yesterday, which provided for another good 21% jump making the total gain after market close come at 115%.
The volumes are also increasing rapidly and we saw a total of 43.7 million shares switch hands during yesterday’s session. Coupled with the climb from $0.311 to $0.365 the dollar volume for the day came at a whopping $14.7 million, putting NVLX in the top of the most traded penny stocks.
It seems, however, that the climb was a bit fast and NVLX started today’s session on a bad note. By now, the company stock has lost some 10% of its value after it gapped up at $0.3929, and is currently traded at $0.326 per share. The volume since market open is quite high, with 25 million traded shares by now, and may very well beat yesterdays after the final bell.
All in all, NVLX has returned to rocky waters and will be quite unstable for the time being. This is enough reason for us to advise you to do your due diligence and weigh out the risks before jumping in.
It seems that Hemp, Inc. (OTCMKTS:HEMP) has ended its red period as their stock climbed 13% in yesterday’s session. Growlife, Inc. (OTCBB:PHOT), however, is not as fortunate and continues to slide down the charts.
