InMed Pharmaceuticals Inc (IMLFF) suffered a bigger decline than most peers in the directory of the approximately 200 stocks we track in the cannabis industry on June 9, skidding 6.32% to close the day at $0.089. Today’s drop came with about 44,900 shares changing hands, compared to an average of 30-day volume of 45,650 for IMLFF.
The share depreciation gives the company a market capitalization of $5.78 million based upon 60.87 million shares outstanding.
In the past 52 weeks, shares of IMLFF have traded as low as $0.05 and as high as $0.2. Technical traders will take note that at 0.089, shares of IMLFF are trading above their 50-day moving average (MA) at $0.078 and below their 200-day MA at $0.111. Technical analysts pay close attention to these key moving averages because they often serve as technical supports and move under them is typically regarded as bearish. Conversely, holding above these key moving averages or breaking over them is perceived as a sign of bullishness.
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 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.
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