Novo Integrated Sciences (NASDAQ:NVOS) stock is rocketing higher on Wednesday after a couple of updates from the healthcare services company.
The first bit of news worth noting is the company entering into a joint venture with Farm 7 Group. The two will work together on the development, administration, and financing of the Kenya Agricultural Cooperative Project.
This joint venture is set to last for 30 years and is expected to produce revenue of $350 million annually. The distribution of profits from the joint venture will be 25% for Novo Integrated Sciences and the remaining 75% for Farm 7 Group.
NVOS Stock Updates
Following that, investors will also note a series of business updates from Novo Integrated Sciences. Included in this is a share purchase agreement with SwagCheck, as well as a securities purchase agreement with RC Consulting Group LLC.
To go along with this, the Board of Directors at Novo Integrated Sciences is considering a strategic review. This has the Board considering a potential share repurchase program. It also received a funding commitment of $40 million to develop joint ventures focused on elderly care.
With all of this news comes heavy trading of NVOS stock. As of this writing, more than 40 million shares have changed hands. For the record, the company’s daily average trading volume is about 9 million shares.
NVOS stock is up 67.2% as of Wednesday morning.
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InvestorPlace is home to all of the hottest stock market news traders need to know about on Wednesday. That includes the biggest pre-market stock movers this morning, the latest news concerning shares of Palantir (NYSE:PLTR) stock, and more. You can find out all about these matters at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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