The stock of NEXGEL, Inc. (NXGL) stock gained in the current market after the company announced its new product MEDAGEL in a press release. The stock of NXGL was valued at $3.07 in the current market gaining more than 4.78% from the previously closed value. At the end of the last trading session, the stock closed at $2.93. The volume of the stock traded in the last trading session was around 365.76K shares.
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Reason for the NXGL stock gain
NEXGEL, Inc. (NXGL) is a leading hydrogel products manufacturer for healthcare and consumer use. Today in a press release, they announced the launch of its MEDAGEL. MEDAGEL is ClearComfort Hydrogel Patch. NEXGEL is using cutting-edge hydrogel technology for the prevention of foot blisters. It protects the skin from the damage of friction by rubbing and chafing in shoes.
MEDAGEL Patches are available in different shapes. To make a perfect fit for the particular shoe needs of customers it also includes a customizable sheet. Other products available in the market leave sticky remains on the shoe but MEDAGEL patches are perfect for top-notch footwear. Also, the clear gel is neutral so it could be used on any color of the shoe.
The CEO of NEXGEL said that the addition of the MEDAGEL will be an excellent and innovative inclusion to the company’s portfolio. It will be solving a problem that is faced by millions of consumers across the globe. It is available in different types of packaging and could be used for different needs like heels and sneakers etc. The new product will be responsible for the protection of the skin of shie and increase its shine and lifecycle as well.
Effect on the stock
The inclusion of the new product to its arsenal affected positively its stock. Investors were responding positively to the stock as the new product has the potential to increase the revenue of the company in the future.
Conclusion
The new product is solving a problem faced by millions of people around the world, thus increasing its potential to be fully adapted by old as well as attract new customers to the company.
