Home Stock Market Commentary Shares of Vystar Corp (OTCMKTS: VYST) Skyrocket In Early Trading On News...

Shares of Vystar Corp (OTCMKTS: VYST) Skyrocket In Early Trading On News – Mike Swanson (05/11/2020)

By
Michael Swanson
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While the S&P 500 and DOW are seeing sluggish trading action this morning shares of Vystar Corporation (OTCMKTS: VYST) are simply skyrocketing. They are up so far this morning over 39% on over 27 million shares of trading volume to make it one of the top gaining and most actively traded stocks on the US OTC market. Traders are taking notice. Take a look at the chart.

The stock was a dull one until it began to move last week. Helping to fuel the attention of traders was news by the company that it was resuming production of its Rx3000 UV light purifiers to be used in hospitals. “We are proud to say that we’ve resumed production of the RX3000 and it is now made in Worcester, Massachusetts, enabling more control over quality and distribution,” said Steve Rotman, CEO of Vystar. “We are now producing 50 units per week. Once we finish testing these units, we plan to ramp up to 1500 units.” When Donald Trump said at a press conference that UV light could help cure the virus Vystar was poised catch on to the new public thinking of UV light.

Traders on Twitter that are active in small caps are getting into the stock.

This is an interesting moment for the broad market with the Bollinger Bands for the S&P 500 squeezing coming together and airline stocks crashing with Warren Buffett selling all of his holdings in them. At the same time many new traders are getting into the market for the first time. Many of them are buying cheap penny stocks like VYST. Now there are mixed opinions on whether this stock will be able to continue these type of daily moves forever. I personally have no opinion on it as I’m focused on stocks that are part of the big trend in the precious metals bull market. My top stock pick for this month is now starting to breakout.

-Mike

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