There are some stocks that may come onto the radars of investors this morning owing to the strong moves that were made yesterday and one of those stocks could well be that of Cann American Corp (OTC:CNNA). The stock was in considerable focus after the company completed a key acquisition and went up by as much as 44% amidst heavy interest. The trading volume in the stock was fivefold its average daily volume and hence, it can be said that there was frenetic activity in the stock on Thursday.
In this regard, it ought to be noted that earlier in the month on March 1, the company had completed the acquisition of Prodigy Stem Cell LLC, as per the 8-K filing by the company on March 16th.
Following the acquisition, Prodigy would continue to operate as a fully owned subsidiary unit of Cann American. Prodigy stem cell is based out of New Jersey and is involved in the sales, marketing and consultation with regard to regenerative medicine. The Cann American stock came into focus today because it had filed the 8K today and it will be interesting to see if the stock can continue to be on the upward curve over the course of the coming days or not.
In this context, it should also be noted that Cann American appointed Peter Caruso as a Director of the company back on March 1. Caruso is a highly experienced executive with business development experience spanning more than two decades and had also founded Prodigy. Prodigy Stem Cell is best known for having come up with an alternative to traditional surgery.
More importantly, the alternative offered by the company requires little to no recovery time for the patients. Additionally, the regenerative medicines offered by the company often help patients in avoiding surgeries altogether.