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 16, gaining 2.21% to close the day at $0.2862 after opening the trading day at $0.288. Today’s rise came with about 190,966 shares changing hands, compared to an average of 30-day volume of 551,069 for InMed Pharmaceuticals Inc. Shares moved as high at $0.2919 and as low as $0.275 in today’s action.
The share appreciation gives the company a market capitalization of $31.87 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 $0.2862, shares of IMLFF are trading below their 50-day moving average (MA) at $0.439 and above their 200-day MA at $0.252. 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.
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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