Vystar Produce RxAir400 UV-C Light Air Purifiers, Stock Surges 30%
One of the stocks that made a significant move on Thursday was that of Vystar Corp (OTCMKTS:VYST), and it came about after the emergence of a positive update from the company. The company is based out of Worcester, Massachusetts, and has a majority stake in Rotmans Furniture and Carpet.
A Major News
In addition to that, Vystar is also involved in products that are meant to improve lives. Some of those products include RxAir® UV light air purification products and Fluid Energy Solutions, among others. The company has also created Vytex, which is a patented, fully natural material and can be used to manufacture as many as 40000 products.
However, the rally in the Vystar stock Thursday came about for a completely different reason. The company announced yesterday that it had resumed production of the RxAir 400 Ultraviolet light air purification systems in collaboration with a new manufacturer. It has also been indicated that the new collaboration is going to lead to a more reliable supply chain and delivery.
The air purifier is primarily meant for customers with small businesses, and Vystar expects to receive the first shipment of 10000 unites of RxAir400 in around 45 days. Investors should also note that the company has already started taking pre-orders for the product and has netted as much as $1 million in cash deposits for a range of RxAir products.
Steve Rotman, the Chief Executive Officer of the company, stated that the new manufacturers, as well as other suppliers, have resumed operations after thorough coordination with healthcare authorities. All COVID 19 related protocols for customer and employee safety are being adhered to as well.
The air purifier can fight against pathogens that are found in the air consistently, and hence, it could be deployed at a wide range of facilities. Schools, offices, gyms, restaurants, homes, and hotels, among others, could make use of the product. The announcement about the resumption of production led to a 30% rally in the stock, and it would be interesting to see if the stock can further add to its gains on Friday. It could be worthwhile for investors to keep an eye on the stock today.
The surge in the stock had been noticed back in June itself as the Vystar stock made an impressive move. The stock managed to go past its previous highs last month and emerged as one of the top traded small caps in the market. The move at the time had been due to the company’s product, the Rx3000 ultraviolet light air purification system that could be deployed in hospitals. Considering the demand for such products at this point, it was no surprise that the Rx3000 created a buxx in the stock market.
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