RespireRx Pharmaceuticals Inc (OTCMKTS:RSPI) Stock Soars 25%: Announces Internal Restructuring
One of the stocks that is expected to come into focus among investors in a big way this morning is the RespireRx Pharmaceuticals Inc (OTCMKTS:RSPI) stock in light of the gains it made yesterday. Following the issuance of an update to the shareholders, the RespireRx stock gained great traction and ended the day with gains of as much as 25%.
Market Stats
On Monday, RSPI stock soared 25% to $0.160 with more than 612K shares, compared to its average volume of 148K shares. The stock moved within a range of $0.0126 – 0.0160 after opening trading at $0.0128.
RespireRx Pharmaceuticals CEO announces internal restructuring, plans further clinical trials in 2022
The Chief Executive Officer of the company Arnold S Lippa provided the shareholders with updates related to the progress made by RespireRx in the year 2021, its future plans and the restructuring that had taken place internally.
In the letter that was sent out yesterday, Lippa noted that following the implementation of an internal restructuring plan, the company’s two-drug platforms have actually been reorganised and have been put under different business units. It was also noted that the business units could eventually be turned into private subsidiaries of the company.
The update clearly proved to be a big boost for the stock as investors piled on to the stock in a big way and sent it soaring considerably. At this point in time, it may be a good move to add the RespireRx stock on to your watch lists.
Traders Corner
RSPI stock is trading above the 20-Day and 50-Day Moving averages of $0.0148 and $0.0144 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0231.
