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RemSleep Holdings Inc. (OTCMKTS:RMSL) Signs Distribution Agreement: Stock Sees Selling Pressure

Madison Hall , , , ,

RemSleep Holdings Inc. (OTCMKTS:RMSL) fell 18% after the medical device manufacturer announced that it had recently negotiated a contract with an international manufacturer for nasal CPAP machines importation.

Market Stats

On Monday, RMSL stock fell 17% to  $0.0190 with more than 25.84 million shares, compared to its average volume of 18.66 million shares. The stock moved within a range of $0.0182 – 0.0244 after opening trading at $0.0234.

RemSleep Holdings Announces Significant Distribution Agreement for Nasal CPAP Machines to Address USA CPAP Shortage

The initial 1500 units order is in place, and shipment of the nasal CPAP machines is scheduled for mid-April, with a massive quantity of more units expected in the coming months. The company expects to presell the units before their arrival, which will bring sales and revenue immediately.

Currently, the US is facing a considerable shortage of CPAP devices availability. The occurrence has been a result of a recent recall from a popular producer and the ongoing supply disruption, which has left most people facing sleep apnea concerned.

As a result, the company is looking to address this through the provision of the devices. Also, RemSleep has signed a three-year lease deal to move to a 10,000 sq. ft. office in Largo, Florida, to accommodate the anticipated growth. So in the coming weeks, RMSL is worth watching.

Key Quote

“These are exciting times for our company! According to online studies, 50 to 70 million adults in the United States have a sleep disorder and an estimated 22 million Americans are living with moderate to severe sleep apnea. With the current shortage of CPAP devices, the quality of sleep for so many individuals are being affected. We believe we can aide in addressing this by supplying nasal devices with our new agreement, and make our product easy to access and affordable,” said CEO Tom Wood.

Traders Corner

RMSL stock is trading above the 20-Day and 50-Day Moving averages of $0.0179 and $0.0183 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0155. 

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.