Shares of China SXT Pharmaceuticals, Inc. (SXTC) stock remained high in Monday’s pre-market trading session. SXTC stock was up by 33.33% to reach $2.44 a share at the time of this writing. It seems that SXTC stock was performing well in the previous trading session as it was up by 3.39% at the previous closing. But what made the stock high? Let’s deep dive to understand this bull.
Sometimes nothing is good for everything and the same is the situation for SXTC stock. There is no particular activity by the China SXT stock, no press release today, no analysts’upgrades, or upswing targeted per share price of SXTC stock to support the rising stock price of China SXT. However it seems that sympathy play might be the driving force behind this bull as China Pharma Holdings, Inc has skyrocketed over 200% in pre-market session today in response to its fiscal year 2020 results.
Back on February 19, China SXT announced the approval of a 1 for 4 reverse split of its ordinary shares by its board of directors. These split-adjusted ordinary shares of SXTC began to trade on February 22, 2021. In connection with this announcement, shareholders of China SXT stock received one new share for every four shares which they owned. As of February 18, China SXT had approximately 62,057,584 outstanding ordinary shares which reduced to 15,514,396 approximately after the reverse split.
Here is what you need to know about China SXT Pharmaceuticals, Inc.
- China SXT is mainly operating in the fields of research, development, manufacturing, and marketing of its traditional Chine medicine piece tablets in the Republic of China. SXTC stock has a current market cap of 28.391M.
- China SXT is a well-established company that provided services to 116 pharmaceutical companies, served 56 pharmacies and 76 hospitals as of May 2020.
- Feng Zhou, a graduate of Pla National Defense University, is the Chief Executive Officer of the SXTC.
- China SXT Pharmaceuticals was founded in 2005 and its headquarters are in Taizhou, China.
Things are going in favor of SXTC stock as far as market sentiment is concerned but no one knows how long this trend will continue in the future. There is no update about the earnings report so far by the China SXT. In a nutshell, investors should keep an eye on this stock.