Rising India Inc (OTCMKTS:RSII) started out the week with a bang, but has given most of it back and then some. RSII was coasting through Monday up more than 20% but dropped 29% on Tuesday. Over the last 30 days, the cannabis biotech has seen price increases of more than 200% going from $0.0082 to now $0.0250. The volume here has also been strong as 23.87M shares are on average trading hands over the last 10 days.
So, what seems to be the catalyst for RSII? Well, there is no recent news to focus on, but the company is more fundamentally sound than it was this time last year, which is allowing more traders to take this company seriously.
Rising India Inc (OTCMKTS:RSII) bills itself as a new and emerging player in the cannabis patch.
The company had been trumpeting itself as “a publicly traded United States company that seeks to accelerate growth through possible joint ventures, mergers, and/or new acquisitions pertaining to development and deployment of media.” The company actually incorporated on April 29, 1998, as a media holding company – an animation company working to develop and market various international media projects. The Company has announced acquisitions, joint-ventures and/or mergers with operating film and media operations pertaining to support and transactional businesses within the film and media industry.
Recently, as noted above the company entered into the cannabis industry wholly and completely via a reverse merger with Rising BioSciences, Inc., which is now the company in charge of the RSII ticker as far as we can determine.
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The overall approach by RSII might be the water lifting the boat. The company has a promising oral cannabis dosing option in Cannophen and progress with its CBD-based scar treatment serum. The latter is close to a distribution phase, which could mean more revenues for RSII. “We are nearing completion on its FDA testing of the TSW (This Sh** Works) pain cream products and is currently working with a company for national distribution of its Scar Peptide Serum,” the company announced in the recent press release. The COO of RSII also expressed that the company has received remarkable feedback from those that obtained study tasters of the Clinical Strength Scar Peptide Serum . RSII together with PAO Group Inc. is assisting lower the grip of opioids on America by focusing its efforts on the responsible cannabis use.
The partnership with PAO brings some much-needed stability and legitimacy to RSII. This relationship started back in November 2017, when RSII announced that it had formed a partnership with PAO and that it would be holding classes in facilities in Ohio State to the general public focusing on how Naloxone is to be used appropriately. A medication developed to undo overdose of opioid quickly; Naloxone is sometimes referred to as Evzio or Narcan. The schedules classes are to be hosted in the firm’s Toledo, Sandusky and Parma offices. Working together, with Rising Biosciences Inc and PAO Group’s Alternative Medicine Centers intend to make the drug available at a much-reduced cost for participants in the events.
Earning a current market cap value of $9.98M, RSII is an interesting company to watch in the cannabis space. The CBD oil market is a strong one and with scientific research behind their product, RSII could stand to go higher if a breakthrough or milestone is reached. Sign-up for continuing coverage on shares of $RSII stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $RSII, either long or short, and we have not been compensated for this article.