Trxade’s stock rockets to pace premarket gainers after Amazon marketing agreement

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Shares of Trxade Group Inc. soared 56% in active trading to pace all of the premarket’s gainers Tuesday, after the online platform for pharmaceutical purchases announced a market program agreement with Amazon.com Services. Trading volume spiked up to 4.5 million shares, compared with the full-day average of about 160,000 shares. Under terms of the one-year agreement, Trxade will promote Amazon.com Inc.’s storage lockers (Amazon Lockers) and pick-up program (Amazon Hub Center) to its network of independent pharmacies, and Txrade will be paid a “sliding fee” for each pharmacy that enters into an agreement with Amazon’s Locker or Hub programs. Trxade’s stock has dropped 37.6% year over the past three months through Monday, while the S&P 500 has gained 5.7%.
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