MyDx Inc (OTCQB:MYDX) suffered a bigger decline than most peers in the directory of the approximately 200 stocks we track in the cannabis industry on October 31, skidding 17.78% to close the day at $0.037. Today’s drop came with about 20.7 million shares changing hands, compared to an average of 30-day volume of 15.32 million for MYDX.
The share depreciation gives the company a market capitalization of $1.08 million based upon 23.98 million shares outstanding.
In the past 52 weeks, shares of MYDX have traded as low as $0.0081 and as high as $1.8. Technical traders will take note that at 0.037, shares of MYDX are trading above their 50-day moving average (MA) at $0.031 and below their 200-day MA at $0.257. 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 MYDX?
MyDx Inc is a science and technology company. It develops nanotechnology to measure chemicals of interest in any solid, liquid, or gas sample. Its product MyDx provides real-time testing of pesticides, chemicals and toxins in food, water and air. The company is led by CEO Daniel Yazbeck from its headquarters in San Diego, CA.
For more information on MYDX 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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