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Progressive Care Inc (OTCMKTS:RXMD) Stock Consolidates After The Recent Fall

Ash K , , , ,

Customised healthcare services firm Progressive Care Inc (OTCMKTS:RXMD) was in the news on Wednesday after it made an announcement with regards to two key appointments. The company announced that it had inducted two new directors to its board of directors in the form of Joseph Ziegler and BiruteNorkute.

Market Stats

On Wednesday, RXMD stock ended lower by 0.36% to $0.0275 with more than 1.83 million shares, compared to its average volume of 1.33 million shares. The stock has moved within a range of $0.0274 – 0.0300 after opening trading at $0.0274.

Progressive Care Announces Appointment of Two New Board Members to the Company’s Board of Directors

While it is true that the appointments were important ones, there was not a lot of reaction from market participants and the Progressive Care stock traded in a range on Wednesday. That being said, it may be a good idea for investors to take a closer look at the appointments and then make their minds up about the Progressive Care stock.

Alan Jay Weisberg , who is the Chief Executive Officer of Progressive Care, spoke about the two appointment yesterday. He stated that everyone at the company was excited at the fact that both Ziegler and Norkute joined the company’s board. He went on to state that Ziegler is a highly knowledgeable person in the fields of finance, accounting and healthcare, while Norkute practical experience in the healthcare sector are going to be invaluable for the company in the future. It remains to be seen if the Progressive Care stock can make a move any time soon.

Key Quote

“We are truly excited to include both Birute and Joseph to the Company’s Board,” commented Alan Jay Weisberg, CEO of Progressive Care. “We strongly believe that Joseph’s deep knowledge in healthcare, finance, and accounting with strong regulatory oversight and Birute’s operating, practical experience and in-depth expertise in healthcare regulations and processes will help the Company meet its corporate goals and drive shareholder value over the short, intermediate, and long term.”

Traders Corner

RXMD stock is trading below the 20-Day and 200-Day Moving averages of $0.0296 and $0.0605 respectively. The stock is trading in neutral zone with the RSI at 42.  The stock is down 6% in the past month.