CorMedix Inc. (NYSEAMERICAN: CRMD) is having a great start to the trading session in the pre-market hours this morning, and for good reason. The company announced positive compliance news, exciting investors and sending the stock running up. Today, we’ll talk about:
- The compliance news;
- what we’re seeing from CRMD stock as a result; and
- what we’ll be watching for ahead.
CRMD Announces Compliance News
As mentioned above, CorMedix is having a great day in the market today after announcing compliance news. The announcement came by way of press release early in the pre-market hours.
In the release, the company said that it received a notice from the NYSE American on April 5, 2019. The notice informed CRMD that it had regained compliance with the NYSE American listing requirements.
In particular, CRMD has resulved the continued listing deficiency with respect to Section 1003(a)(i), Section 1003(a)(ii) and Section 1003(a)(iii) of the NYSE American Company Guide.
This is great news for the company as it means that there will be no immediate issues with regard to continued listing on the NYSE.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. When it comes to CorMedix, the news proved to be overwhelmingly positive.
After all, continued listing means that the company will maintain access to the funding that NYSE comes with. So, it’s no surprise to see that excited investors are pushing the stock up in the market this morning.
As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:24), CRMD is trading at $9.68 per share after a gain of $0.031 per share or 3.31% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CRMD. In particular, we’re interested in following the story surrounding the company’s continued work to bring Neutrolin to market as the product could prove to be a hit. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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