InMed Pharmaceuticals Inc (OTCQB:IMLFF) outpaced most other peers in the directory of the approximately 200 stocks we track in the cannabis industry on July 26, gaining 2.91% to close the day at $0.272 after opening the trading day at $0.261. Today’s rise came with about 163,851 shares changing hands, compared to an average of 30-day volume of 263,362 for InMed Pharmaceuticals Inc. Shares moved as high at $0.272 and as low as $0.256 in today’s action.
The share appreciation gives the company a market capitalization of $33.74 million based upon 127.65 million shares outstanding.
In the past 52 weeks, shares of InMed Pharmaceuticals Inc have traded as low as $0.0501 and as high as $0.72. Technical traders will take note that at $0.272, shares of IMLFF are trading below their 50-day moving average (MA) at $0.299 and below their 200-day MA at $0.276. 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.
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All data provided by QuoteMedia and was accurate as of 4:30PM ET.
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