InMed Pharmaceuticals Inc (OTCQB:IMLFF) outpaced most other peers in the directory of the approximately 200 stocks we track in the cannabis industry on June 9, gaining 22.58% to close the day at $0.291 after opening the trading day at $0.248. Today’s rise came with about 561,285 shares changing hands, compared to an average of 30-day volume of 574,628 for InMed Pharmaceuticals Inc. Shares moved as high at $0.2914 and as low as $0.2372 in today’s action.
The share appreciation gives the company a market capitalization of $27.02 million based upon 113.84 million shares outstanding.
In the past 52 weeks, shares of InMed Pharmaceuticals Inc have traded as low as $0.05 and as high as $0.72. Technical traders will take note that at $0.291, shares of IMLFF are trading below their 50-day moving average (MA) at $0.445 and above their 200-day MA at $0.246. 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.
For more information on IMLFF 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.
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/.