$EDNT Making Noise in Major Bullish H&S Base Breakout
EEDNT is sitting in a classic Head & Shoulders basing pattern right now, coming off the right shoulder and primed today for a possible breakout above the confluence of the 50- and 200-day MA's following huge news on medical logistics segment to combat COVID-19.
The company just announced that it has launched its new operational division, Edison Nation Medical, for its new line of health and medical products and to address product demand surrounding COVID-19.
According to the release, the Company recently announced the acquisition of HMNRTH Nutraceutical’s line of Cannabidiol health and wellness products as well as five proprietary cleaning products developed by Synertech, Inc., all of which will be included within Edison Nation Med’s pipeline of products. The Company has also entered into a distribution agreement for hand sanitizer through several US factories and has received an initial purchase order of approximately $1.85 million. Edison Nation’s longstanding relationships with large scale retailers and entertainment venues provides the perfect synergy for the new distribution enterprise.
“By leveraging our decades of experience in overseas sourcing of high-quality products, we felt the need to focus certain sourcing operations to meet the current demand for medical supplies by our clients,” said Edison Nation Chief Executive Officer Chris Ferguson. “Additionally, we are procuring products on behalf of state and local governments to assist them during the COVID-19 pandemic. Edison Nation Med will allow these entities to have a consistent and verified supply chain, which will allow them to concentrate on the pandemic and Edison Nation Med to support their needs.”
The company just announced that it has launched its new operational division, Edison Nation Medical, for its new line of health and medical products and to address product demand surrounding COVID-19.
According to the release, the Company recently announced the acquisition of HMNRTH Nutraceutical’s line of Cannabidiol health and wellness products as well as five proprietary cleaning products developed by Synertech, Inc., all of which will be included within Edison Nation Med’s pipeline of products. The Company has also entered into a distribution agreement for hand sanitizer through several US factories and has received an initial purchase order of approximately $1.85 million. Edison Nation’s longstanding relationships with large scale retailers and entertainment venues provides the perfect synergy for the new distribution enterprise.
“By leveraging our decades of experience in overseas sourcing of high-quality products, we felt the need to focus certain sourcing operations to meet the current demand for medical supplies by our clients,” said Edison Nation Chief Executive Officer Chris Ferguson. “Additionally, we are procuring products on behalf of state and local governments to assist them during the COVID-19 pandemic. Edison Nation Med will allow these entities to have a consistent and verified supply chain, which will allow them to concentrate on the pandemic and Edison Nation Med to support their needs.”
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