Global Care Capital Has Gained 500% Since April 1

Global Care Capital

Continuing his coverage of companies making big moves in addressing COVID-19, Rich is turning his attention today towards Global Care Capital Corp. (CSE:HLTH) (OTC:RSCZF). This stock has been on a major bull run lately, so let’s dive into its business strategy and its latest news.

Global Care Capital is an investment company that provides early-stage financing to private and public companies. It mainly focuses on investment opportunities in previously underdeveloped assets and obtaining positions that adequately reflect its risk profile.

“Remember, this is a stock that went from a penny to $1.17 in a very short while,” explains Rich. “So there’s obviously going to be some pullback. But I wouldn’t be surprised, after this consolidates, to see the stock go way higher.”

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Emergency Use Authorization from the FDA

Last week, Global Care Capital acquired ViraxClear Rapid Test Corp, a company that markets and distributes products that address significant health needs. As its name implies, it primarily focuses on rapid testing, which is of great importance in the fight against COVID-19.

Earlier today, as Global Care closed the deal, it also announced that the FDA granted Emergency Use Authorization to ViraxClear’s potential COVID-19 test kits. These tests can now be used by clinical laboratories in the US and Europe.

In the announcement, President and CEO of Global Care, Alex Somjen, stated:

“We believe that serology tests are a potentially powerful tool for identifying anyone who has been infected, whether they have symptoms or not. Many experts agree that accessibility of widespread testing is an important element to ‘flattening the curve’. We look forward to ViraxClear pursuing their goal of increasing the availability of advanced and cost-effective COVID-19 testing solutions across the globe.”

Global Care Capital’s Performance

On March 12, Global Care stock hit an all-time low of $0.02. This was likely due, in part, to the broader collapse of the markets driven by COVID-19.

Since then, however, HLTH has done nothing but gain value. Moving steadily at first—rising to $0.19 by the start of April—the stock suddenly shot up the following week. It hit $0.68 by that Monday and continued rising to its current price of $1.17. This represents 515% gains from the start of the month.

As Rich stated, it’s reasonable to expect a pull back after seeing the share price reach such a height. But Global Care is readying itself for long-term value, as it leverages today’s good news into tomorrow’s earnings.

What do you think? Is HLTH another COVID-19 stock to keep track of? Let us know your plans!

Featured image: Photo by M. B. M. on Unsplash

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