Investors in Todos Medical Inc (OTCMKTS:TOMDF) have had a pretty tough time over the course of the past few days and the trend remained the same on Monday as the stock tanked by another 10%.
On Monday, TOMDF stock moved down 9.85% to $0.0586 with 5.08 million shares, compared to its average volume of 10.53 million shares. The stock has moved within a range of $0.0585 – 0.0680 after opening trade at $0.0630.
Todos Medical Records Record Weekly COVID PCR Testing Volumes at Provista
The selloff suffered by the Todos stock on Monday took the losses for the past week to as much as 25%. Despite the selloff in the stock yesterday, it should be noted that the company, which is a full service medical diagnostics entity, made a major announcement yesterday. The company announced that its COVID 19 testing laboratory named Provista Diagnostics managed to generate record COVID PCR testing volume for two weeks straight.
The numbers were for the two weeks of December 13, 2021 and December 20, 2021. It goes without saying that it was a major announcement from the company but the news did not lead to much positivity among investors with regards to the Todos Medical stock.
The Chief Executive Officer and President of the company, Gerald E Commissiong spoke about the development as well. He stated that PCR testing is rising at a significant clip in several areas of the United States and he added that he believed that the numbers are only going to rise in the coming days.
“The demand for PCR testing is rapidly increasing in pockets of the United States, and we expect this to continue beyond the holiday surge as individuals, schools and employers seek to create safe environments, especially in areas with low vaccination rates,” said Gerald E. Commissiong, President & CEO of Todos Medical, the parent company of Provista Diagnostics. “
TOMDF stock is trading below the 200-Day and 50-Day Moving averages of $0.0411 and $0.0532 respectively. Moreover, the stock is trading is the neutral zone with RSI stands at 46.