Item 9 Labs Corp (OTCMKTS:INLB) was one of the notable laggards in the market yesterday as its stock ended up suffering from a strong selloff and clocked a decline of as much as 9% as a consequence.
Trading Data
On Tuesday, INLB stock moved down 5.71% to $0.99 with 6.4k shares, compared to its average volume of 14k shares. The stock has moved within a range of $0.9200 – 1.0500 after opening trade at $1.04.
Item 9 Labs Corp. to Host its Fiscal Year 2021 Earnings Call on January 18 at 2 p.m. ET
In light of such a decline, it may be time for investors to take a closer look and figure out if it may be a good time to get into the cannabis dispensary operators at a discount. As it happens, the company was actually in the news on Tuesday after it announced that it was going host a conference call next Tuesday on January 18, 2022 which is going to be focussed on its fiscal year 2021 financial results.
It was also announced by the company that the 10K Form in relation to the financial results is going to be submitted on January 13, 2022. Such an announcement is generally welcomed by investors but it seems that it did not lead to any optimism at all and instead the stock suffered from a steep selloff. It now remains to be seen if the Item 9 Labs Corp stock can managed to get back in favour among investors in the lead up to the big day.
Technical Data
INLB stock is trading below the 20-Day and 50-Day Moving averages of $1.09 and $1.19 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.29.
