Zynerba Pharmaceuticals Inc. (NSD:ZYNE) came out strong at the opening of trading on June 27, outpacing most other peers in the directory of approximately 200 stocks we track in the cannabis industry with an early advance of 16.44%. After closing the previous session at $7.65, shares of ZYNE opened this morning at $8.24 and are currently trading at $8.908. So far, about 174,578 shares have changed hands, compared to an average 30-day volume of 203,581 for Zynerba Pharmaceuticals Inc.. Shares moved as high at $8.94 and as low as $8.1 in today’s early action.
The share appreciation gives the company a market capitalization of $70.38 million based upon 9.2 million shares outstanding.
In the past 52 weeks, shares of Zynerba Pharmaceuticals Inc. have traded as low as $4.64 and as high as $43.0. Technical traders will take note that at $8.908, shares of ZYNE are trading above their 50-day moving average (MA) at $8.123 and below their 200-day MA at below $10.617. 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 $ZYNE?
Zynerba Pharmaceuticals Inc is a specialty pharmaceutical company focused on developing and commercializing proprietary next-generation synthetic cannabinoid therapeutics formulated for transdermal delivery. The company is led by its CEO from its headquarters in Devon, PA.
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All data provided by QuoteMedia and was accurate as of 9:30AM ET.
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