There were plenty of stocks that had declined sharply last Friday and one of those was the International Dispensing Corporation (OTCMKTS:IDND) stock. The stock suffered from a selloff and declined by as much as 5% after it announced last Friday that back on December 2, 2021, Douglas Blagdon had decided to resign from his position in the board of directors at International Dispensing Corporation.
Trading Data
On Friday, IDND stock fell 4.63% to $0.0649 with more than 7.9K shares, compared to its average volume of 27.3K shares. The stock has moved within a range of $0.0600 – 0.0680 after opening trade at $0.06.
Douglas Blagdon Resigns From the Board of IDC
The news may not have particularly thrilled the investors in the company and the stock soon suffered from a selloff. It should be noted that at the time, the company announced that it was going to announce a replacement for Blagdon imminently.
In order to have a better idea about the stock, it is also necessary for investors to get an idea about International Dispensing Corporation and its business. The company is involved in the designing, manufacturing and sales of packaging and dispensing solutions which are proprietary.
At this point in time, International Dispensing Corporation offers it services to a wide range of industries. Some of the industries it is involved with include pharmaceuticals, chemical, medical, food and beverage. Despite the fall in the stock price, it will be interesting to see if the stock an make a recovery any time soon.
Technical Data
IDND stock is trading below the 20-Day and 50-Day Moving averages of $0.0663 and $0.0701 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1202. The stock is up 8% in the past month.
