RVP Stock Price: Over 10% Increase Explanation

By Amit Chowdhry ● Jun 1, 2021
  • The stock price of Retractable Technologies, Inc. (NYSEAMERICAN: RVP) increased by over 10%. This is why it happened.

The stock price of Retractable Technologies, Inc. (NYSEAMERICAN: RVP) increased by over 10%. Investors are responding positively to Retractable Technologies announcing it received a notice of intent to extend a government contract.

In accordance with the 30-day notice requirement, it received a preliminary notice from the U.S. Department of Health and Human Services, Office of the Assistant Secretary for Preparedness and Response (HHS/ASPR) expressing its intent to exercise all 7 one-month option periods under 75A50121P00021 contract between HHS/ASPR and Retractable. 

These option exercises would extend the contract expiration date to February 14, 2022. And as previously disclosed, the option periods increase the value of the contract by $92,772,680, including the price of the products and freight reimbursement.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.