This morning, it is quite likely that plenty of investors are going to look into the Artelo Biosciences Inc (NASDAQ:ARTL) stock quite closely. The Artelo stock emerged as one of the notable gainers yesterday and ended the day with gains of as much as 20%.
Trading Data
On Monday, ARTL stock increased 21.58% at $0.8700 with more than 252.59 million shares, compared to its average volume of 4.14 million shares. The stock has moved within a range of $0.8678 – 1.3200 after opening the trade at $1.1700.
Major Trigger
However, at the same time, it is necessary to point out that there was no news about the company and many investors might feel that the rally was perhaps a bit speculative in nature. In this situation, it is often a good idea to look into the past and then get some idea about the company.
Artelo is a biopharmaceutical company and is involved in developing therapies which are focussed on lipid signalling pathways. Earlier on in the year in August the company had provided an update with regards to the results from a key study.
The study in question was in relation to the comparison of the sort of pharmalogical effects of plant based CBD and synthetic CBD on human cell lines. That being said, it is also important to note that the latest rally may not be related to the announcement and hence, investors could do well to wait and watch.
Technical Data
ARTL stock is trading above the 20-Day and 50-Day Moving averages of $0.77 and $0.82 respectively. However, the stock is trading below the 200-Day moving average of $1.22. The stock is up 20% so far this year.
