Bioelectronic devices pioneer Electromedical Technologies Inc (OTCMKTS:EMED) has seen its stock record considerable gains over the course of the past week and the trend continued on Wednesday as the stock recorded a decline of 10%.
The decline in the stock yesterday took its losses for the past week to as much as 17%. While there was no news about the company yesterday, it should be noted that last Thursday the company had made an announcement with regards to the fact that it cleared the audit for ISO 13485:2016 recertification with regards to Medical Device and Quality Management Systems.
The designation is a crucial one for any company engaged in the particular line of business since it indicates that the facility owned by Electromedical is compliant with all the requirements for manufacturing medical devices.
The ISO 13485:2016 certification is recognised at an international and reinforces the fact that the company’s facility meets the safety and quality standards. While it is true that the development is an important one, it cannot be denied that the Electromedical stock has had a tough time in the past week. It might be a good idea for investors to currently keep an eye on the stock.
