NovAccess Global Inc (OTCMKTS:XSNX) Stock Takes A Hit: Here is Why

Biomedical company NovAccess Global Inc (OTCMKTS:XSNX) did not have a particularly great time in the markets as it ended up with a decline of as much as 23% for the day. In light of such a decline, it may be a good idea for investors to figure out if the stock is going to make a recovery soon or if the slide is going to continue.

Trading Data

On Friday, XSNX stock slid 23.08% to $0.1200 with more than 2.33K shares, compared to its average volume of 9.97K shares. The stock moved within a range of $0.1150 – 0.1574 after opening trade at $0.1150.

NovAccess Global Announces Fireside Chat Series for the Investment Community

The company announced yesterday that it was going to start having a number of interviews with members of its corporate leadership over the course of the coming four months. The company further noted that more sessions could be made available as developments come to the fore.

The interviews in question are going to be conducted with the purpose of providing coverage to current and important developments at NovAccess Global. While it was an important announcement, it did not lead to any particular optimism from investors and led to a fairly strong selloff. The series of interviews are going to be held on a monthly basis over the course of the coming four months. It now remains to be seen if the stock can bounce back today or not.

Technical Data

XSNX stock is trading below the 20-Day and 50-Day Moving averages of $0.18 and $0.19 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.29. The company has a total market capitalization of $2.28 million.