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Is InMed Pharmaceuticals Inc (INM) a Stock to Watch After Losing -16.04% This Week?

Friday, January 27, 2023 03:44 PM | InvestorsObserver Analysts

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Is InMed Pharmaceuticals Inc (INM) a Stock to Watch After Losing -16.04% This Week?

The market has been down on InMed Pharmaceuticals Inc (INM) stock recently. INM gets a Bearish score from InvestorsObserver Stock Sentiment Indicator.

Sentiment Score - ,bearish
InMed Pharmaceuticals Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on INM!

What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With INM Stock Today?

InMed Pharmaceuticals Inc (INM) stock is lower by -6.77% while the S&P 500 is up 0.68% as of 3:43 PM on Friday, Jan 27. INM is down -$0.13 from the previous closing price of $1.91 on volume of 193,960 shares. Over the past year the S&P 500 is lower by -6.02% while INM is down -93.47%. INM lost -$30.15 per share in the over the last 12 months.

More About InMed Pharmaceuticals Inc

InMed Pharmaceuticals Inc is a Canada based pre-clinical stage biopharmaceutical company. The company is engaged in the research and development of novel, cannabinoid-based therapies combined with drug delivery systems. It is focused on the treatment of diseases including pain and inflammation, dermatology, Orofacial Pain, Glaucoma, ocular, CNS, respiratory, metabolic diseases, and others. Click Here to get the full Stock Report for InMed Pharmaceuticals Inc stock.

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