Guardion Health Sciences shares are trading higher after the company announced its signed an equity purchase agreement to sell its Activ Nutritional subsidiary to Doctor's Best for $17.2 million cash.
Portfolio Pulse from Benzinga Newsdesk
Guardion Health Sciences (GHSI) shares are up following the announcement of an equity purchase agreement to sell its Activ Nutritional subsidiary to Doctor's Best for $17.2 million in cash.
January 31, 2024 | 5:40 pm
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POSITIVE IMPACT
Guardion Health Sciences' stock is likely to experience a positive short-term impact due to the sale of its subsidiary, Activ Nutritional, for $17.2 million in cash to Doctor's Best.
The sale of a subsidiary often leads to a positive market reaction, as it can provide a company with a significant cash influx. In the case of GHSI, the $17.2 million cash deal for its Activ Nutritional subsidiary is likely to be viewed favorably by investors, as it could strengthen the company's balance sheet and provide capital for other investments or debt reduction. This is likely to have a positive short-term impact on GHSI's stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100