MYOS Corporation common stock (NASDAQ: MYOS)
MYOS Corporation is having an interesting start to the day to say the least. After starting the day off on relatively strong gains, the stock quickly fell near the break even point, where it has remained flat throughout most of the first hour. That is, until the stock started to spike for the top just minutes ago. Below, we'll discuss what we're seeing from MYOS, why the stock is making a run for the top, and what the CNA Finance team will be watching for ahead.
What We're Seeing From MYOS
As mentioned above, MYOS Corporation is having an incredibly interesting start to today's trading session. When the opening bell rang, the stock was already trading on impressive gains. However, that didn't last long as it quickly fell near the break-even point. Nonetheless, minutes ago, the stock started to spike for the top again, far exceeding highs that it had seen early on. At the moment (10:23), MYOS is trading at $3.37 per share after a gain of $0.25 per share or 8.01% thus far today.
Why The Stock Is Running Up
Before we get into the details, let's give credit where credit is due. Our friends at Trade Ideas were the first to bring the alert to us that MYOS was making a run for the top. As soon as we were notified of the gains, the CNA Finance team started working to see why the stock was making a run for the top. It didn't take long to dig up the story. The gains seem to be associated with a new product line launch.
Early this morning MYOS Corporation announced the launch of its new Qurr product line. The line is available for purchase and subscription orders at Qurr.com, the company's e-commerce website and educational portal. The products are available in various flavors for powdered puddings and shakes and they contain the company's proprietary ingredient known as Fortetropin(R). Fortetropin is clinical shown to reduce serum myostatin levels and increase lean muscle size and mass. In a statement, Joseph Mannello, CEO at MYOS had the following to offer...
“Muscle is critical to our overall well-being and we are thrilled to offer products developed to build healthy muscles which provide a foundation for full-body health and overall healthy living... Consumers simply take one packet a day in conjunction with resistance training, and within three months can see increases in lean muscle mass.”
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on MYOS. In particular, we're interested in watching how the new product launch goes. Nonetheless, we'll continue to watch the story closely and bring you the news as it breaks!
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[Image Courtesy of Pixabay]