An announcement from the globally integrated biopharmaceutical company Medolife Rx Inc on Wednesday led to a selloff in the stock of its majority owner Quanta Inc.
The Quanta Inc (OTCMKTS:QNTA) stock actually went down by as much as 9% amidst the selloff and in this situation; it could be a good move for investors to perhaps take a look at the announcement from Medolife. Yesterday, the company announced that it had started a study on the polarised CBD product, meant to be a muscle rub, which is going to be offered to the market as part of the Aelia brand.
As per the announcement from Medolife this particular study is going to look into the effectiveness of the muscle rub product in controlling inflammation. In addition to that, the findings are also going to be compared with the non-polarised CBD products which are currently available in the market.
The study in question is going to be conducted by a scientist from BCN Biosciences. While it is true that the announcement from Medolife was an important one, it weighed heavily on the Quanta stock and it seemed that investors were not particularly thrilled. It remains to be seen if the Quanta stock can make a recover in the coming days.