Medical diagnostics firm Todos Medical Ltd (OTCMKTS:TOMDF) has not had a great time in the markets in recent times and the trend continued to be the same on Wednesday as the stock fell by another 9%. The decline in the stock on Monday took the decline over the course of the past week to as much as 15%.
Trading Data
On Wednesday, TOMDF stock fell 9.41% to $0.0520 with more than 4.36 million shares traded, compared to its average volume of 10.47 million shares. The stock has moved within a range of $0.0500 – 0.0570 after opening trading at $0.0570.
Todos Medical CEO Provides Letter to Shareholders
Yesterday, the company was in the news after its Chief Executive Officer and President, Gerald Commissiong, sent out a letter to its shareholders providing an overview of the progress made by Todos with regards to getting listed on a major national exchange this year.
While he did touch upon the range of work that had been accomplished by the company over the past year, the more important bit from the letter was in relation to the uplisting.
Commissiong noted that Todos had already engaged the services of an underwriter in order to help with its plans to uplist to the NASDAQ. It was also noted that the uplisting could take place at some point in the first half of this year. Uplisting to NASDAQ could prove to be a major move from the company since the stock is then going to get exposure to a much larger pool of investors.
Technical Data
TOMDF stock is trading below the 20-Day and 50-Day Moving averages of $0.0604 and $0.0557 respectively. However, the stock is trading above the 200-Day moving average of $0.0416.
