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Shares of Wellgistics Health Inc (NASDAQ:WGRX) are skyrocketing over 200% Friday afternoon, driven by the recent announcement of a strategic partnership with Datavault AI (NASDAQ:DVLT).
What To Know: The surge began in after-hours trading on Thursday following the news of a non-binding letter of intent to integrate Datavault’s blockchain technology into Wellgistics’ pharmaceutical distribution infrastructure.
This collaboration will introduce PharmacyChain, a smart contract system designed to digitize prescription tracking from the manufacturer to the patient, aiming to enhance efficiency and patient safety. The companies are also exploring a revenue-sharing model based on usage fees.
This news also comes on the heels of Wellgistics’ recent launch of HubRx AI, a customizable artificial intelligence platform for pharmacies.
WGRX Price Action: Wellgistics Health shares were up 206% at $1.23 at the time of publication on Friday. The stock is near its 52-week low of $0.33, according to Benzinga Pro data.
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Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Wellgistics Health’s case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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