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Why Repro Med Systems Inc. (KRMD) stock turnaround on Tuesday?

METC Stock

METC Stock

Repro Med Systems Inc. (KRMD) shares surged 6.22% to trade at $4.44 in after-market on Tuesday, May 19, 2021, after KRMD’s stock lost 2.56% to close Tuesday’s normal trading session at $4.18. KRMD shares have lost 54.47% over the last 12 months, and they have moved up 16.43% in the past week. Over the past three months, the stock has declined11.06%, while over the past six months, it has added 4.50%.

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Let’s see is there any reason behind its turnaround on Tuesday?

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Repro Med Systems facing several lawsuits

Rosen Law Firm reminded purchasers of the securities of Repro Med Systems, Inc. between August 4, 2020, and January 25, 2021, about a class action filed by Rosen Law Firm

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The lawsuits claim that the investors suffered the damage due to false and misleading statements by the company and the company was unable to disclose and provide the details such as the net sales were reasonably likely to decline.

KRMD increased the usage of allowances such as growth rebates to key customers to retain their business and improve growth starting in January 2020.

Financial result announcement

On May 13, 2021, Repro Med Systems Inc released its financial results for the first quarter ended March 31, 2021.

Q1 2021 financial highlights

About the company

Repro Med Systems, Inc., operating as KORU Medical Systems, is a leading developer and manufacturer of medical devices and supplies.

KORU Medical Systems is located in Chester, Orange County, NY. KORU manufactures medical devices used in emergency care, hospital settings, nursing homes, other medical facilities, and home care.

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Well, we have no recent news about the company, and its turnaround on Tuesday is a bit strange. We have to wait and see how KRMD stock performs in the coming days.

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