ZIVO Bioscience, Inc. (ZIVO), a research and development company, has seen a decline of 6.61% in aftermarket trading session. As a result, ZIVO stock was trading at $5.09 when last checked. The decline appears to be the profit-taking effect after ZIVO stock skyrocketed on Friday. The stock gained an increase of 57.97% during regular hours and closed the day at $5.45. The increase is apparently due to the push inflicted by retail traders on the penny stocks. Let’s have some discussion about recent developments related to ZIVO stock.
ZIVO letter to shareholders
On 17th August, ZIVO issued a letter to its shareholders. The letter was issued from Chief Executive Officer Andrew Dahl. According to the details, the company highlighted its strong financial performance during times of pandemic. The company further reiterated its aim to move forward. In that regard, the commercialization efforts were reaping the benefits, as reported by the company. The company praised the performance of its employees to take it over the heights of glory. The company also shed a light on its recent developments, such as the successful completion of its planned capital raise and up-listing to NASDAQ. The company also informed the investors that it retained CORE IR to assist in establishing relations in capital markets and engagement in PR activities. The letter informed investors that the company participated in an LD Micro virtual investment seminar and would attend conferences and seminars in the future as well. The company also said that the closures due to the COVID pandemic created work stoppages for it. The supply chain interruptions resulted in schedule delays and price inflation, affecting the financials of the company.
Pricing of a public offering
On 27th May, ZIVO announced the pricing of its upsized underwritten public offering. The offering consists of 2,760,000 units at a price to the public of $5.00 per unit. Each of the units that were to be issued in the offering consisted of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $5.50. The company said that common stocks and warrants would be available immediately and had to be issued separately. The company said that the common stock and warrants were expected to begin trading on the Nasdaq Capital Market, on May 28, 2021, under the symbols “ZIVO” and “ZIVOW,” respectively.
What’s the future for ZIVO stock?
ZIVO stock has increased by a massive 94% during the last week. The 52 week high of ZIVO stands at $14.40 and 52 weeks low at $2.72. Analysts estimate suggest ZIVO stock’s EPS to increase by 46% during the current fiscal year. Based on these indicators, investors should be hopeful for positive times ahead.
