What ScripsAmerica, Inc. (OTCMKTS:SCRC) Has To Say On Trading Activity In its Stock?

ScripsAmerica, Inc. (OTCMKTS:SCRC) a prominent company offering specialty prescription and also OTC medical supplies and pharmaceuticals released an update on recent trading momentum in its stock. The company said that it is not aware of any reason that has resulted in the recent unusual momentum and volume surge in the stock. The company didn’t provide any information associated with the extensive talks of its business as highlighted in the investor presentation, as available on the official website. It is even applicable for all other public information that is released on the website or through SEC filings. The plan is to fully reiterate all the preannounced comments and disclosures.

The operations

ScripsAmerica is a supplier OTC firm of prescription, nutraceutical as well as OTC drugs, providing pharmaceutical offers to end customers across the health care segment. The lists of end customers are huge and include home care groups, government, retail pharmacies units, hospitals units and long-term care facilities.

The trend

On January 29, 2015 ScripsAmerica recorded a 52-week high of close to $0.22 per share. It retreated from highs and the registered a 52-week low of $0.066 a share. The people who entered into the stock in January are sitting at huge losses of 70%. Penny stocks have a tendency to record such kind of volatile movements and ScripsAmerica is no exception.

The clarifications

The unusual price momentum that comes with on healthy volume generates an alert tone in the market. That forced ScripsAmerica to come up with a press release that stated it is not aware of any reason behind such momentum. As of now, there is no apparent reason for the decline and investors are perplexed as the crash was not an outcome of any SEC filings, news, press release or a paid promotion. In Friday’s trading session, SCRC stock price surged 12.68% to close at $0.0880.

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