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Rhinomed shares jump 75% on enhanced breathing device enthusiasm

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Rhinomed (ASX:RNO) shares have traded 75% higher today, hitting an intraday high of $0.043 after closing yesterday at $0.024.

Shares in the company last traded at $0.038.

Rhinomed manufactures and sells its Turbine enhanced breathing device which purportedly increases the amount of air and oxygen that can pass through the nasal passages and into the lungs.

It is being targeted for use in athletes and particularly cyclists.

In early June, the company reported that it had now attracted 13,152 new subscribers to its subscriber database.

The broader drive through both online and offline media, including campaigns with bikeexchange.com.au and firstoffthebike.com is exposing the Turbine brand to ‘qualified’ cyclists’ and athletes.

All those who have joined the Turbine subscriber base have expressed high-level interest in cycling and are now being introduced to the benefits of the Turbine.

The recent Ridewiser Trial results showed some Turbine users could generate an additional 6.5% in power, and Rhinomed has been working with Tour de France green jersey winner Baden Cooke in Europe to introduce the Turbine to the world’s leading cyclists and teams.

The company has also enlisted Giant Bike stores and Bicycles Inc. as Australian retail outlets.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Rhinomed Ltd

Price: 0.076 AUD

ASX:RNO
Market: ASX
Market Cap: $12.86 m
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