At this point in time, Induva Limited (OTCMKTS:NDVAF) is one of the biggest operators in the Canadian cannabis industry and is best known for its edibles and other associated products. If you are looking for cannabis stocks to track in 2022, then it might be a good idea to start with Induva.
Market Reaction
On Friday, NDVAF stock surged 17.775 to $0.2826 with more than 69k shares, compared to its average volume of 47k shares. The stock has moved within a range of $0.2443 – 0.2858 after opening trade at $0.25.
Important Updates
The stock has been one of the major movers in recent days and even last Friday it had managed to record gains of as much as 18%. That took the gains made by Induva to as much as 35% for the past week. In this regard, it should however be noted that there was no news at all about the company in the past week.
The last time the company was in the news was back on December 16, 2021 when Induva announced that it had appointed Rachel Goldman as one of its directors. It was a significant appointment from the company but at the same time it should be noted that the rally in the Induva stock may not have been related to it. Hence, it might be a good move to keep track of all the news in relation to Induva in the coming days.
Traders Review
NDVAF stock is above the 20-Day and 50-Day Moving averages of $0.23 and $0.25 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.31. The stock is up 20% in the past week.
