IPOWorld (OTCMKTS:IPOW) was a massive decliner during Friday’s trading session declining by 14% on relatively high volumes, which were 4 times the daily average turnover. The stock has been unable to move above the resistance zone at levels of $2.45 and witnessed massive selling pressure over the last few trading sessions. IPOWorld currently trades below all important moving averages, which is seen to be a bearish sign. The momentum oscillators show signs of a bearish reversal, seen as a negative. The RSI oscillator has given a sell signal. Traders believe the stock could head to levels of $0.090 in the near term.
IPOWorld (OTCMKTS:IPOW), better known for offering world-class solutions in the cannabis industry, has decided to shift back its focus to intellectual property and patent services. As per the reports, it’s in middle of negotiations to lease out and start development on a 3-acre sovereign land, which is located in Anza, California.
It plans to develop this land into a fully working facility where it can develop proprietary cannabinoid genetics specifically related to medicinal ailments with the help of third party consultants.
Company’s senior management team is looking forward to exploring this opportunity at all costs. In a recent public statement, IPOWorld stated that the future growth of the industry is possible only when companies start to understand the true value of patent protection and intellectual property.
The cannabis industry is one of the fastest growing industries in the world, yet the proprietary delivery systems and disease-specific genetic strains haven’t received as much attention as they deserve. The primary focus of IPOWorld is to make sure that it can continue to grow further at a good pace, regardless of how difficult the market situation is. It intends to take multiple initiatives for the same, details of which will be announced at a future date.
It’s not the first time when the company has taken any revolutionary step to make a mark in the industry. Earlier, it filed an application to upgrade its securities to OCTQB, which is a marketplace managed by OTC Markets Group. Before this initiative, company’s securities used to trade at OTCPink, another arm of OTC Markets Group. It’s generally perceived that the securities listed on OTCQB get better market exposure and investors’ attention on the back of real-time price transparency.
IPOWorld’s senior management team is committed to taking more such efforts in the coming months to expand market reach and gain investors’ attention.