InMed Pharmaceuticals Inc (OTCQB:IMLFF) had a tough morning trading session on December 30, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with a slide of 5.61%. After closing the previous session at $0.196, shares of IMLFF opened this morning at 0.189 and are trading at $0.185 at the lunch break. So far, about 394,031 shares have changed hands, compared to an average 30-day volume of 359,905 for InMed Pharmaceuticals Inc. Shares moved as high at $0.1965 and as low as $0.175 in AM trading action.
The share depreciation gives the company a market capitalization of $14.42 million based upon 73.57 million shares outstanding.
In the past 52 weeks, shares of InMed Pharmaceuticals Inc have traded as low as $0.05 and as high as $0.2209. Technical traders will take note that at $0.185, shares of IMLFF are trading above their 50-day moving average (MA) at $0.129 and above their 200-day MA at $0.093. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath them is typically regarded as bearish.
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 led by its CEO from its headquarters in Vancouver, BC.
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All data provided by QuoteMedia and was accurate as of 12:00PM ET.
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