TRxADE Health Stock Skyrockets: Here's Why

TRxADE HEALTH, Inc. MEDS shares are trading higher Wednesday after the company announced a special cash dividend of $8 per share.

The Details:

TRxADE Health said the special dividend is being paid using a portion of the proceeds from the closing of the recently announced sale of the company’s web-based market platform assets and is payable to stockholders of record as of March 18 with the dividend being paid on or about March 22.

TRxADE Health shares are moving on heavy trading volume following the dividend announcement. According to data from Benzinga Pro, more than 4.11 million shares have already been traded in the session, compared to the stock’s 100-day average of less than 232,000 shares.

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Is MEDS A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Trxade Health‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Trxade Health MEDS does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

For example, if you're looking to earn an annualized return of 13.89%, you'll need to buy a share of Monroe Cap by the Mar. 14, 2024. Once done, you can expect to receive a nominal payout of $0.25 on Mar. 29, 2024.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Trxade Health will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

MEDS Price Action: According to Benzinga Pro, TRxADE Heath shares are up 82.5% at $15.20 at the time of publication.

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