Retractable Technologies jumps after getting notice of intent to extent government contract
Jun. 01, 2021 1:57 PM ETRetractable Technologies, Inc. (RVP)
Jun. 01, 2021 1:57 PM ETRetractable Technologies, Inc. (RVP)
- Retractable Technologies(NYSE:RVP) soared 23% after announcing that the company received a notice from the U.S Dept. of Health and Human Services expressing its intent to exercise all seven one-month options periods under a contract with the agency.
- Such options exercises would extend the contract expiration date until Feb. 14. The option period increases the value of the contract by $92.8M including the price of the products and freight reimbursement, according to a statement.
- The news today comes after Bleeker Street Research released a short report on the company in late April. Retractable short interest 20%of free float.
