Aoxing Pharmaceutical Company Inc (NYSEMKT: AXN)
Aoxing Pharmaceutical Company stock is having an amazing day in the market today. After the company announced in a press release that it would soon release important company updates, the stock started to soar. Today, we’ll talk about the announcement that was made on Saturday, the growth we saw in the stock throughout the day, and what we can expect to see moving forward. So, let’s get right to it…
AXN To Announce Important Company Updates
A press release was issued from Aoxing Pharmaceutical Company on CNN that announced that Aoxing will be providing an important company update at the New York Stock Exchange. The announcement at the New York Stock Exchange will take place tomorrow, June 9th between the hours of 3pm and 5pm eastern time.
How AXN Reacted To The News Of The Upcoming Announcement
As mentioned above Aoxing Pharmaceutical Company is having a great day in the market today. While we saw relatively flat movement in early morning trading, that changed as the day moved on. Starting around 11:00, the stock started to climb; with fast pace upward movement lasting until about 1:25. However, since then, the stock has been moving up and down and is starting to create a flag. Currently (4:17), AXN is trading at $2.77 per share after a gain of 59.20%!
What We Can Expect From Aoxing Pharmaceutical Company Stock Moving Forward
Moving forward, I’m expecting to see great things in both the short and long term outlook. Here’s how I see it…
- Short Term – Today’s growth was caused by the press release that came out Saturday, explaining that AXN will be providing important company data on the 9th at the New York Stock Exchange. Considering that tomorrow is the 9th, I would expect that investor excitement would continue at least throughout tomorrow and most likely Wednesday; as I’d imagine the news being offered is positive news. With that said, it may be a good idea to start looking for pull backs; bringing the stock to lows and signifying a good entrance opportunity.
- Long Term – In this particular case, I’m expecting the gains we’ve seen today to last over the long term. I’m also expecting to see more gains of course. When it comes to Aoxing Pharmaceutical Company, we’re talking about a company that produces narcotic medications for the treatment of pain as well as the treatment of drug addiction. The company has an incredible pipeline, is well managed, and the team of doctors and scientists behind the brand is incredibly talented. All in all, these factors should lead to long run growth.
While I am expecting growth in both the short and long term view, it’s also important to remember that AXN is a small cap biotech stock. Stocks in this industry tend to be incredibly volatile. So, we are likely to see dips here and there on the way to the top. However, I wouldn’t be too concerned when they happen; the stock is likely to grow long term overall.
What Do You Think?
Where do you think AXN is headed and why? Let us know in the comments below!