Over the course of the past week, the Marijuana Strategic Ventures Inc (OTCMKTS:MSVI) stock has been in the middle of a severe selloff and the situation remained the same last Friday as the stock went down by another 11%. That took the decline that had taken place over the course of the past week to as much as 60%. Considering the magnitude of the selloff in the stock, it may be a good time for investors to now try and figure out if the stock may actually make a comeback any time soon.
Trading Data
On Friday, MSVI stock fell 11.11% to $0.12 with more than 535K shares traded, compared to a volume of 109K shares. The stock moved within a range of $0.1200 – 0.1690 after opening trading at $0.1350.
Marijuana Strategic Ventures is a publicly traded company that trades under the ticker symbol MSVI on the OTC Markets. However, the ticker symbol is soon expected to be changed to MYCO. The company is involved in supporting the growth of the mushroom industry by way of development, collaboration, and innovation.
The company is focused on the creation and support of product innovations that are environmentally responsible in nature. At this point in time, Marijuana Strategic Ventures Inc is focused on developing industrial applications for its Mycelium so as to manufacture carbon-neutral items that are going to be meant for the health care and building industries.
The company is heavily reliant on research and development activities and believes that it is the only path to creating innovative products in the long run. That being said, it is now time for investors to also take a look at some recent developments so that they can have a better idea about the price action in the stock.
Marijuana Strategic Ventures, Inc. (OTC: MSVI) Announces Updates for Mushrooms, Inc., Health Product Production, Provisional Patent and Business Plan Development
Marijuana Strategic Ventures was in the news back on Friday after it provided an update with regards to the sort of progress that it had managed to make in three separate segments, namely health, innovation and research, and development. As far as its efforts in the health sector is concerned, it was noted that Marijuana Strategic Ventures had managed to secure the sourcing of as many as 4 Telogenix products which are listed on the website at this point in time.
On the other hand, the ingredients listed for the products are all organic and non-GMO in nature. At a time, when more and more people are looking for organic products for their health needs it was a major new announcement from Marijuana Strategic Ventures. In addition to that, the company also noted that it was looking to make the products available at some point by the end of September 2022.
On the Research and Development front, Marijuana Strategic Ventures announced that it had managed to make considerable progress in filing for its first provisional patent. It was noted that the process in question is going to come as a breakthrough for the healthcare industry.
In addition to that, it was also noted that the product is going to be composed of green industrial waste. The announcements made by the company were significant but it did not lead to any major move in the stock. In fact, it suffered from a selloff.
