Vystar Stock Surges 40% on High Volume: What’s Next?
In recent days, many companies that have been working on products aimed at tackling the coronavirus pandemic have seen their stocks soar and one of the latest stocks to enter that fray is that of Vystar Corp. Common Stock (OTCMKTS:VYST).
What to do Now?
On Tuesday, the Vystar stock soared by as much as 40%, and considering the handsome gains made by it, it could be worthwhile for investors to take a closer look at the company’s operations. One of the most important developments with regards to Vystar came about back in the middle of July when the company announced that it was going to resume production of its RxAir®400 Ultraviolet (UV) light air purification systems.
The company announced that it has roped in a new manufacturer and this move will help in better reliability in terms of production, delivery, and supply chain. According to reports, the UV-C Light Germicidal Irradiation (UVGI) is one of the most effective methods of decontaminating face masks, and hence, this is another important thing to keep in mind.
On top of that, the air purifier in question could be deployed in retail stores, offices, restaurants, and also at educational institutions in order to reduce risks of contamination during the coronavirus pandemic. At the time, Vystar announced at the time that it expects to receive delivery of 10000 units of the purifier and bulb cartridge replacements within the next 45 days.
Investors should also note that the company announced in mid-July that it has already started receiving cash deposits for pre-orders and the total had gone up to $1 million. Considering the fact that evidence has emerged that the coronavirus could be transmitted through the air, air purifiers are expected to be in demand for many establishments, and hence, the latest development at Vystar is a boost for the company.
For those who are interested in the stock, it is important to note that Vystar is well known for making significant moves within a short period of time. Back in 2019, the Vystar stock had gone on a spectacular run and went from triple zero levels to $0.15 pretty quickly. As a result, it delivered enormous gains to plenty of investors.
The announcement regarding the RxAir air purifier has again brought the stock into sharp focus. The traction for the product has been building in recent days and that has excited investors as well, who have been bidding higher for the Vystar stock. The surge in the stock on Tuesday was possibly a culmination of the rising interest in the Vystar stock and it remains to be seen whether this interest in the stock is sustained over the coming days. Investors could do well to keep a close eye on the stock.
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