Brands management and acquisition firm MedX Holdings Inc (OTCMKTS:MEDH) has not been in the news for many weeks. Hence, it was perhaps not a surprise that the MedX stock traded within a range on Friday.
Market Reaction:
On Friday, MEDH stock increased 2.04% at $0.0050 with more than 6.55 million shares, compared to its average volume of 11.18 million shares. The stock has moved within a range of $0.0046 – 0.0052 after opening the trade at $0.0048.
Key Trigger
That being said, investors also need to keep in mind that stocks trading within a range can often break out strongly and hence, it might be a good idea to take a closer look into it. The last time any news emerged about MedX was back on September 10 this year when the company announced that it was on the verge of completing the acquisition of the whole owned subsidiary Counterculture Brands Inc.
It was a significant development for MedX considering the nature of Counterculture’s business. Counterculture is best known for franchising and licensing of the Coffeeshop and Ladydaze Counterculture brands. In addition to that, it is involve in the cannabis industry and is also engaged in the building of ancillary brands that could complement the space. The acquisition could prove to be a long term boost. However, the lack of any new developments has possibly led to the current action in the stock. Investors could do well to keep their eye out for fresh news.
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