When a stock is moving in a range then it might be the right time to take a closer look into it. After all, there is always a chance of the stock eventually breaking out. The Skye Bioscience Inc (OTCMKTS:SKYE) stock is currently moving in a range and could be the one to track for investors.
There has been no news about the stock this week so far but last week the biopharmaceutical company announced the appointment of Praveen Tyle in the form of an independent director. Skye is involved in the development of synthetic CBD based molecules that are meant to tackle conditions like glaucoma and others. Most of the conditions that the company’s products target have unmet needs at this point in time.
The appointment of Tyle as an independent director could be an important one for the company in the long run considering the fact that he has an experience spanning as long as 35 years in the pharmaceutical industry.
More importantly, he has worked as a senior executive and worked in leadership positions for a period spanning as long as 37 years. The Skye stock may be trading in a range now but investors could consider keeping an eye on its movement.