Tuesday , June 18 2019
Breaking News
Home / Market Movers / Cannabis Stock Laggard: MyDx Inc (OTCQB:MYDX) Drops 8.0% for January 25

Cannabis Stock Laggard: MyDx Inc (OTCQB:MYDX) Drops 8.0% for January 25

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 January 25, skidding 8.0% to close the day at $0.0023. Today’s drop came with about 47.94 million shares changing hands, compared to an average of 30-day volume of 58.24 million for MYDX.

The share depreciation gives the company a market capitalization of $627,886 based upon 251.15 million shares outstanding.

In the past 52 weeks, shares of MYDX have traded as low as $0.0013 and as high as $0.85. Technical traders will take note that at 0.0023, shares of MYDX are trading below their 50-day moving average (MA) at $0.008 and below their 200-day MA at $0.123. 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.

About PotNetwork.com

PotNetwork.com is a leading publisher of market news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the legal cannabis and medical marijuana markets. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts interested in all segments, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications and market exposure. A complete disclaimer can be viewed here.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of PotNetwork.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://potnetwork.com/legal-disclaimer/.

About Jeremy Wilchek

Check Also

Cannabis Stock Leader: Zoned Properties Inc (OTCQX:ZDPY) Advances 23.08% for July 28

Zoned Properties Inc (OTCQX:ZDPY) outpaced most other peers in the directory of the approximately 200 …