One of the stocks which is expected to be in focus among investors this morning is that of PsyKey Inc/CeCors (OTCMKT:CEOS), which had come into the news yesterday after its fully owned subsidiary unit PsyKey Inc made a major new announcement. PsyKey announced yesterday that it had signed up for a distribution agreement with Hygeia LLC for the national distribution of all its functional product lines.
On Wednesday, CEOS stock went up 9.09% to $0.0360 with more than 263K shares, compared to a volume of 351K shares. The stock moved within a range of $0.0330 – 0.0363 after opening trade at $0.0330.
Hygeia is regarded as a wellness and lifestyle distribution company. The President of PsyKey, Amar Bhatal, spoke about the latest deal as well. He noted that the distribution agreement in question is expected to be a key factor in the long-term growth of PsyKey as a company.
He noted that the agreement is going to help the company in getting its products to thousands of independent retail locations across the United States. In addition to that, the products are also going to be made available at some of the biggest retail chains in the country. That will help PsyKey in distributing its product in a far more rapid manner.
Consequently, it is expected to bring in the sort of revenue that will help PsyKey in moving aggressively toward boosting its portfolio of products. Considering the fact that the company is going to have access to such a wide retail footprint, it will be easier for PsyKey to market its new products as well.
In this situation, it could also be a good idea for investors to get a better idea of Hygeia as a company. It is part of the National Association of Convenience Stores, which counts among its members as many as more than 1600 supplying companies and 2100 retailers. However, it is a specialist in the distribution of lifestyle and wellness products which are in considerable demand. It may be a good time to add CECORS to your watch lists.
CEOS stock is trading below the 20-Day and 50-Day Moving averages of $0.0388 and $0.0616 respectively. However, the stock is trading above the 200-Day moving average of $0.0351.