Although the wider market had been in the middle of a significant selloff yesterday, there were still certain exceptions that came to the fore in a big way. One of the stocks that actually ended the day with handsome gains was the Avra Inc (OTCMKTS:AVRN) stock, which attracted the attention of investors in a big way.
The stock clocked gains of as much as 30% on Monday and it is now likely that it might come into focus among investors this week. The company, which is better known as Springs Rejuvenation, is best known for running a stem cell and anti-aging center based out of Chamblee, Georgia.
Avra, Inc./Operating as Springs Rejuvenation (AVRN) Signs Lease For New Fort Lauderdale FL Clinic Location
Yesterday, the company announced that it had signed the lease for a brand new clinic that is going to be based out of Fort Lauderdale, Florida.
The property in question is situated in an office park and has easy access to airports and freeways. The new location is going to be equipped with new technology that is going to allow Avra to provide services to such patients whose needs had remained unmet at the other clinic.
Additionally, the clinic was acquired by Avra after months of negotiations and hence, the excitement among investors was perhaps understandable. It is now going to be interesting to see if the stock can continue to hold on to its momentum in the coming days.
However, in this context, it ought to be noted that not too long ago, Avra had actually completed a merger with Springs Rejuvenation and last week, the new entity announced its plans with regards to expansion. At the time, the company announced that it had ambitious plans with regards to its expansion and noted that it was planning to establish as many as 8 new clinics. That was a significant piece of news and something that may have had an impact on the bullish move in the stock on Monday.
Some of the cities that have been targeted include New York City, Denver, Miami, and Austin among others. At this point, it may be a good move for investors to add the Avra stock to their watch lists.