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Pervasip Corp (OTCMKTS:PVSP) Stock Falls On Artizen Spin Off

Madison Hall , , , ,

On Tuesday, it was a bad day in the markets for investors in Pervasip Corp (OTCMKTS:PVSP) as the company’s stock suffered from a steep selloff and went down by as much as 30%. In this situation, it is important for investors to figure out if the slide is going to continue or if a recovery might actually be in the offing.

Trading Data

On Tuesday, PVSP stock decreased 30% to $0.0007 with 98.06 million shares, compared to volume of 15.11 million shares. The stock moved within a range of $0.0005 – 0.0009 after opening trade at $0.0009.

Pervasip Announces Artizen Spin Off

The company announced yesterday that it was going to spin-off its fully owned subsidiary unit Artizen Corporation into a separately listed public company. The company also announced that the anticipated record date for the same is going to be between July 1 and September 30 this year.

Once the spin-off is actually completed, all shareholders in Pervasip are going to be awarded shares in the new entity on the designated record date. The shares are going to be issues in proportion of their shareholding in Pervasip. In this regard, it is important for investors to keep in mind that Artizen is an entity that is involved with the cannabis business of Pervasip. German Burtscher, who is the Chief Executive Officer anD Chairman of the company, noted that the spinoff is going to help in capitalizing on the cannabis opportunity in a better way.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.