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Stock impact report

Pharmaceutical stock surges 26% after crypto pivot [Yahoo! Finance]

NovaBay Pharmaceuticals, Inc. (NBY) 
NASDAQ:AMEX Investor Relations: novabay.com/investors
Company Research Source: Yahoo! Finance
Company announces rebranding to focus on stablecoin ecosystem and staking It currently holds 2 billion SKY tokens, generating on-chain rewards NovaBay Pharmaceuticals Inc (NYSE: NBY) was known for its eye care and anti-infective products. Today, it made a major pivot for its business. The company announced on March 23 that it will rebrand as Stablecoin Development Corporation, shifting away from its pharmaceutical roots to become an on-chain holding company focused on digital assets. The new ticker, SDEV, is expected to go live in early April. Related: Cancer drug maker takes sudden pivot into crypto Stablecoins take center stage At the core of this transformation is a massive bet on the Sky protocol ecosystem. The Sky protocol ecosystem, formerly known as Maker, is a decentralized finance (DeFi) network built around the USDS stablecoin system and SKY governance token. Stablecoin is a cryptocurrency designed to maintain a stable value, pegged to fiat currencies li Show less Read more
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