The past week has been a fairly difficult one for investors in PAO Group Inc (OTCMKTS:PAOG) as the company’s stock continued on a downward spiral and ended up with losses of as much as 25% during the period.
Trading Data
On Tuesday, PAOG stock ended flat at $0.0018 with more than 11.71 million shares, compared to its average volume of 7.38 million shares. The stock has moved within a range of $0.0015 – 0.0019 after opening trade at $0.0019.
PAOG Cites Research On Hemp Compounds Effectiveness Treating Covid To Advance Pharmaceutical Development
However, in this context, it is also necessary to note that PAO Group actually made a key announcement yesterday and it could be a good move to take a look into it. PAO Group announced yesterday that recently published research into CBGA and CBDA, compounds which are present in hemp, displayed the capability of stopping a major step in the process by which the COVID-19 virus infects people.
It goes without saying that such a finding is a significant one for PAO Group considering the fact that it has worked diligently in this space in recent times. At this point in time, PAO Group is the owner of intellectual property with regards to a CBD extraction method.
Hence, if the research does prove to be correct then it could be a major boost for PAO Group in the near term. However, it is too early to say how it might all pan out and that is perhaps the reason why the stock did not rebound yesterday.
Technical Data
PAOG stock is below the 20-Day and 50-Day Moving averages of $0.0024 and $0.0031 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0042.
