December 10, 2023

Share InnoCan Pharma: Hammer from Canada!

Share InnoCan Pharma: Hammer from Canada!

Things didn’t get off to a particularly good start for shares of InnoCan Pharma on Tuesday. The value decreased by a whopping -5.7%. The stock could not confirm the advance praise that has been distributed in the past few days. This was definitely labeled a new hammer from Canada – because hope for a strong cannabis moniker was so high in the (mostly social) media.

raised in vain

Lately the share has gone up a bit. The bottom line is that the stock is down more than -20% in five days. Prices have gone up 25% in a month and managed to post a 57% premium in three months.

The message is that things are getting better – albeit only with big ups and downs. Volatility is a real warning sign from a technical point of view. Bids can fall below the 50 cent limit at any time for a penny stock. In any case, surprisingly, so is the opinion of economically minded analysts, that such a value becomes headline hype so quickly, largely without news.

The bottom line is that Tuesday’s losses were not particularly surprising. It has just gained value among speculators at the moment.