InMed Pharmaceuticals Inc (OTCQB:IMLFF) outpaced most other peers in the directory of the approximately 200 stocks we track in the cannabis industry on June 12, gaining 9.97% to close the day at $0.32 after opening the trading day at $0.3. Today’s rise came with about 734,951 shares changing hands, compared to an average of 30-day volume of 578,727 for InMed Pharmaceuticals Inc. Shares moved as high at $0.32 and as low as $0.291 in today’s action.
The share appreciation gives the company a market capitalization of $33.13 million based upon 113.84 million shares outstanding.
In the past 52 weeks, shares of InMed Pharmaceuticals Inc have traded as low as $0.05 and as high as $0.72. Technical traders will take note that at $0.32, shares of IMLFF are trading below their 50-day moving average (MA) at $0.445 and above their 200-day MA at $0.247. 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 pre-clinical stage biopharmaceutical company. It is engaged in devleoping noval therapies through the research and development into the pharmacology of cannabinoids coupled with drug delivery systems. The company is working from its headquarters in Vancouver, BC.
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All data provided by QuoteMedia and was accurate as of 4:30PM ET.
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