Biopharmaceutical company Emmaus Life Sciences Inc (OTCMKTS:EMMA), which already has commercial operations, saw its stock take a significant hit on Tuesday and ended the day with a decline of as much as 6%.
Market Reaction
On Tuesday, EMMA stock fell 6.25% to $0.75 with more than 13K shares, compared to its average volume of 20K shares. The stock moved within a range of $0.7500 – 0.8780 after opening trade at $0.8780.
Key Details
However, in this regard, it ought to be noted that the company actually made a rather positive announcement yesterday when it provided a list of the investor conference in which it will be participating in the month of May. It was announced that from May 3 to May 4, the company would be in attendance at the Investor Summit 2022. The Chairman and Chief Executive Officer of Emmaus, Yutaka Nilhara is going to make a presentation in which he will provide an overview.
On the other hand, the company is also going to be a part of the H C Wainwright Global Investment Conference that is going to be held from May 23 to May 26. At this event, Nilhara is going to be making a presentation as well and it is also going to be about an overview of the company. It is going to be an on demand presentation and interested parties could watch it on May 24 at 7 in the evening Eastern Time.
Traders Review
EMMA stock is trading below the 20-Day and 50-Day Moving averages of $0.89 and $1.19 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.42.
