One of the companies which have come into sharp focus among investors in recent days is that of Phoenix Rising Companies (OTCQB:RSSV) and last week, the stock was in focus again after the company made a major announcement. Back on August 4, the company announced that it made an addition to its board of directors and it goes without saying that it is a key announcement.
Phoenix Rising announced that its Board of Directors has been strengthened further with the joining of Eric Fuller. Fuller is an executive with a lot of experience in the medical devices and therapies industry and his addition to the board is likely going to be a boost for Phoenix Rising. However, that is not all. The company also announced that Fuller has been appointed as the Vice President of United Sales for Phoenix.
In its press release, Phoenix stated that Fuller’s experience in sales in the United States could help the company considerably in its quest to drive sales in the infectious disease control divisions.
Phoenix is planning to make some acquisitions in the sector and the appointment of Fuller is possibly part of the company’s strategy to drive sales. The Phoenix stock has performed highly impressively over the course of the past month and has managed to garner gains of as much as 400%. In such a situation, it could be worthwhile on the part of investors to take a closer look at the company and perhaps add the stock to their watch lists.
That being said, it is also perhaps necessary to keep in mind that this impressive rally has been brought about by other important developments around the company as well. Earlier on in July, the company made a major announcement to its subsidiary ADMALL, which is involved in manufacturing supplements related to wellness and beauty. On July 24 Phoenix announced that ADMALL was aiming to expand its sales operations to Australia, United States, Western Europe, and other lucrative markets in the Western world.
The company’s products are based on scientific solutions and are meant for helping people with nutrition, stress, and toxin-related difficulties. It is a massive market and at this point in time, it is worth around $1.1 trillion globally. If the company can corner even a tiny slice of that market then it could prove to be a major deal.
The company has primarily worked in the Asian market, but this move will enable it to play in the big leagues of the markets in which consumers generally have higher disposable incomes. It is a big move from ADMALL and one that could only be a positive for Phoenix Rising. Earlier on in May, Phoenix Rising had also reached an agreement to acquire the entirety of a European disinfectant and infection control technologies company.
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