Right on Brands (RTON) Stock Jumped 80% Last Week: How Far Can it Go?
Right on Brands (OTCMKTS:RTON), which is involved with the development of a wide range of hemp and CBD based products, was in considerable focus among investors this past week.
On Friday, the company announced that after it filed its financial results for the third quarter to the United States Securities and Exchange Commission and that has made it Pink Current. It was a major development for the company and led to a 34% rally in the Right On Brands stock. That took its gains for the whole week to as much as 80%. The rally in the stock is understandable considering the fact that it has been a long drawn out process and finally Right on Brands can breathe easy.
On the other hand, it should be noted that the for the rest of the week, the stock had made a strong move as well and that was not related with regards to its becoming Pink Current once again.
Earlier on in the week, the company’s Chief Executive Officer David Youssefyeh joined the Stock Day podcast for chat. The CEO spoke about a wide range of subjects with regards to the company’s business and that might have resulted in the stock coming into focus last week.
Market Reaction:
On Friday, RTON stock gained 34.21% to $0.0051 with more than 197.07 million shares, compared to its average volume of 45.65 million shares. The stock has moved within a range of $0.0036 – 0.0051 after opening the trade at $0.0038. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.0108.
