Major biotech firm Willow Biosciences (TSE:WLLW) (OTCMKTS:CANSF) has seen its stock go into a vicious downward spiral over the course of the past six months. During that period, the stock has suffered from a steady selloff and at this point, the losses stand at as much as 50%.
Trading Data
In the morning session, CANSF stock fell 0.47% to $0.3445 with more than 3.5K shares, compared to its average volume of 39K shares. The stock has moved within a range of $0.3445 – 0.3500 after opening trade at $0.35.
Major News
Considering the magnitude of the losses, it is a good time for investors to figure out if the slide is going to continue or if there is any chance of a recovery. This morning the company is actually in the news after it made an announcement with regards to its in vitro analysis and the study that had been conducted on CBG or cannabigerol.
The product in question is meant for skincare and today, the results of the study into the FutureGrown CBG product were published in a peer reviewed magazine. The magazine in question is Molecules. It is one of the leading international peer reviewed open access publications and the publication of the study in that journal is a major coup for Willow Biosciences.
However, it is now going to be interesting to see if the latest development leads to any positive push for the Willow stock this morning or in the coming days.
Technical Data
CANSF stock is trading below the 20-Day and 50-Day Moving averages of $0.35 and $0.35 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.65.
