In the past week RushNet Inc (OTCMKTS:RSHN) has suffered considerable in the markets and that can be seen from the price action in its stock during the period. The selloff in the RushNet stock continued on Friday as the stock went down by as much as 6% and that took its decline over the course of the past week to 23%.
On Friday, RSHN stock decreased 6.12% at $0.0023 with more than 228.13 million shares, compared to its average volume of 113.19 million shares. The stock has moved within a range of $0.0018 – 0.0026 after opening the trade at $0.0024.
As it happens, the company was in the news this past Friday after it issued a letter to its shareholders in conjunction with Grandeza Healthcare and heliosDX, its subsidiary companies. The company provided an update with regards to its many attempts with regards to restructuring of the authorised and outstanding share structure in the past seven months.
While that was an important update in itself, RushNet also pointed out that it has also been working on a number of important acquisitions that could boost the company’s revenues considerably. Some of the acquisitions have actually been completed and the first of those was the acquisition of heliosDX back in July earlier on this year. A month later, RushNet completed the acquisition of Grandeza Healthcare. It remains to be seen if the stock can actually make a recovery this week.