Site icon Market Globalist

Why Applied UV Inc (AUVI) stock lost its positive momentum in the after-market on Thursday?

JOBY Stock

Applied UV Inc (AUVI) shares lost 11.82% to trade at $7.09 in after-market on Thursday, May 20, 2021. Earlier, AUVI’s stock gained 11.36% to close Thursday’s normal session at $8.04. AUVI shares have moved up by 4.01% in the past week. Over the past three months, the stock has lost 25.97%, while over the past six months, it has surged 59.52%.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Let’s try to find out the reason behind its turnaround on Thursday.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Distribution agreement with 3Sixty Biopharmaceuticals

On May 19, 2021, Applied UV, Inc signed an exclusive distribution agreement for the distribution of the Airocide® consumer and commercial air purification systems within the continent of Africa, with 3Sixty Biopharmaceuticals (Pty) Ltd.

Read More

According to the agreement, 3Sixty will pay an upfront binding purchase commitment of a minimum of $3.5 million of Airocide® systems over the initial one-year term of the agreement.

Sixty is one of the largest black-owned companies in South Africa with a primary focus on the market that addresses the healthcare crisis due to the global pandemic.

Financial results announcement

On May 17, 2021, Applied UV, Inc released its first-quarter results for 2021.

Q1 2021 financial highlights

Applied UV reported net sales of $2,312,615 in Q1 2021 compared to $1,471,634 for Q1 2020.

Gross profit was $924,266 for the reported quarter compared to $309,821

For Q1 2020.

The company spent $1,645,162 in total operating expenses in Q1 2021 compared to $388,198 in Q1 2020.

It suffered a net loss of $1,032,951 for the three months ended March 31, 2021, compared to a net loss of $78,377 in the three months ended March 31, 2020.

The company had a cash balance of $8.9 million on March 31, 2021.

Received Patent in china

On April 12, 2021Applied UV, Inc. announced that the Chinese Patent Office has issued a notice granting Applied UV’s patent application for its core pathogen destroying the device.

President of Applied UVMax Munn said that, Including China, the company have received ten crucial patents for our foundational pathogen destroying technology, which defines an exciting new path to address the global challenge of infection prevention and reinforces the uniqueness of our technology.

New chief financial officer appointment

On April 5, 2021, Applied UV, Inc appointed Mike Riccio, CPA, as Chief Financial Officer, effective April 5, 2021.

Mr. Riccio is a highly accomplished CFO having a background with global public companies in corporate finance and operations management systems. He holds an extensive array of financial experience.

Acquisition of the Airocide(R) Technology

On February 9, 2021, SteriLumen, Inc which is a wholly-owned subsidiary of Applied UV acquired all of the assets of Akida Holdings LLC, (Akida), including all of the rights to manufacture and sell the Airocide® System of patented, air disinfection and purification technologies, for 1.375 million common shares of Applied UV stock and $901,274.96 in cash.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Conclusion

There is no such negative news that could be linked with its loss in the after-market session on Thursday. In fact, we had some positive news that can take AUVI stock to climb on Friday.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Exit mobile version