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Home / Market Movers / Cannabis Stock Leader: InMed Pharmaceuticals Inc (IMLFF) Surges 24.11% in Early Trading on June 3

Cannabis Stock Leader: InMed Pharmaceuticals Inc (IMLFF) Surges 24.11% in Early Trading on June 3

InMed Pharmaceuticals Inc (IMLFF) came out strong at the opening of trading on June 3, outpacing most other peers in the directory of approximately 200 stocks we track in the cannabis industry with an early advance of 24.11%. After closing the previous session at $0.0564, shares of IMLFF opened this morning at $0.07 and are currently trading at $0.07. So far, about 5,000 shares have changed hands, compared to an average 30-day volume of 48,550 for InMed Pharmaceuticals Inc. Shares moved as high at $0.07 and as low as $0.07 in today’s early action.

The share appreciation gives the company a market capitalization of $3.39 million based upon 60.14 million shares outstanding.

In the past 52 weeks, shares of InMed Pharmaceuticals Inc have traded as low as $0.05 and as high as $0.2. Technical traders will take note that at $0.07, shares of IMLFF are trading below their 50-day moving average (MA) at $0.079 and below their 200-day MA at below $0.112. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move above them is typically regarded as bullish.

Who is $IMLFF?

InMed Pharmaceuticals Inc is a clinical stage biopharmaceutical company. It develops cannabis based therapies through the research and development into the pharmacology of cannabinoids coupled with drug delivery systems.. The company is led by its CEO Craig Schneider from its headquarters in Vancouver, BC.


For more information on IMLFF and other companies focused on the expanding legal cannabis and medical marijuana industries or to considered for contributing content, visit PotNetwork.com today.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

About PotNetwork.com

PotNetwork.com is a leading publisher of market news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the legal cannabis and medical marijuana markets. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts interested in all segments, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications and market exposure.
Disclaimer: PotNetwork.com, nor its parent company, Online Media Group, Inc., is not registered with any financial or securities regulatory authority and does not provide, nor claims to provide, investment advice or recommendations to readers of this release to buy, sell or hold any securities. Investing intrinsically involves substantial risk and readers are reminded to consult an investment professional and complete their own due diligence, including SEC filings, when researching any companies mentioned in this release. This release is based upon publicly available information and, while vetted, is not considered to be all-inclusive or guaranteed to be free from errors. PotNetwork.com publishes and distributes this informational purposes and has received no compensation from any company mentioned in this release. A complete disclaimer can be viewed at: www.potnetwork.com/legal-disclaimer.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of PotNetwork.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://potnetwork.com/legal-disclaimer/.

About Jeremy Wilchek

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