INVO Bioscience (NASDAQ: INVO) Stock Sees Bullish Momentum on Merger News
The news about the closing of a key merger yesterday sent the INVO Bioscience (NASDAQ: INVO) stock soaring by 89% as investors piled on to it. This morning the stock could well be the one to watch.
INVO Bioscience and NAYA Biosciences Close Merger, Combined Company to Operate as NAYA Biosciences (NASDAQ: NAYA)
The company came into focus on Monday after it announced the closure of its merger with firm NAYA Biosciences. It was noted that the new combined entity would be named NAYA Biosciences and would trade under the ticker symbol NAYA on the NASDAQ exchange.
Additionally, it was noted that the new entity would continue to operate the fertility business, which generates revenues, and also work on the development of clinical stage assets to address autoimmune and oncology-related conditions.
Further Key Details
The new entity following the merger would be led by Steve Shum, the current Chief Executive Officer of INVO Bioscience. Additionally, the former CEO and founder of NAYA Biosciences, Dr. Daniel Teper, would be the president of the new entity.
It was also noted that Dr. Teper would stay on as the CEO of NAYA Therapeutics, a subsidiary unit of NAYA. There was expectation that the combined assets of the two businesses would lead to opening up of considerable value for both the new as well as legacy shareholders. It may be a good time to add the INVO Bioscience stock to your watch lists.
Key Quote
“We are confident that our expanded portfolio business model and combined assets have the potential to create significant value for both legacy and new shareholders,” commented Steve Shum, CEO of the combined company. “Combining scalable, profitable revenues from our fertility business with the upside of innovative therapeutics optimizes risk-return for investors. In addition, the hub-and-spoke model allows for shared resources and talent to accelerate the development of our lean, agile subsidiaries.”
Traders Notes
| +/- EMA(20) | 0.78 (+30.77%) |
| +/- SMA(50) | 0.78 (+30.77%) |
| +/- SMA(200) | 0.93 (+9.68%) |
| 5-Day Perf. | +51.13% |
| 1-Month Perf. | +43.08% |
| 3-Month Perf. | +21.72% |
| 6-Month Perf. | +32.99% |
| YTD Perf. | -24.44% |
| 1-Year Perf. | +48.8% |
| RSI(14) | 63.13 |
| ATR(14) | 0.11 |
| ADX(14) | 31.22 |
| Beta (5Y) | 0.50 |