Predictive Technology Group Inc. (OTCMKTS – PRED) Jumps 50% This Week, Are You Watching?
Shares of Predictive Technology Group Inc. (OTCMKTS:PRED) are among the top penny stock gainers over the past month. The PRED stock has almost doubled on increase volume since April 16th. In fact the stock has jumped 52% this week alone amid multiple press releases. The biggest news was the company’s submission of its application to list its common stock on NASDAQ.
On May 07, Predictive Technology Group Inc. (OTCMKTS: PRED) has announced that its 100% owned subsidiary Predictive laboratories has enrolled 200 subjects in the Institutional Review Boards approved study for chronic joint and spine pain disease.
In other developments, yesterday the company announced the appointment a new Board of Directors Committee Chair and submitted an application to list its common stock on NASDAQ.
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IRB study
The goal of the IRB approved study is to carry out genetic research in diagnosis, prevention, and treatment of causative factors of chronic pain. The company has indicated that they have enrolled 200 volunteer participants who have already given their DNA samples to the Predictive Laboratories’ Biorepository as well as the provision of medical reports from their healthcare providers.
Bradley Robinson the CEO of Predictive Technology Group stated that in every five American adults at least one suffers from chronic pain and opioid use has led to increased addiction and overdose as patients try to find relief. He stated that there has been a positive response from patients who have enrolled in the study in search of a better solution to the pain. This will be a great milestone for predictive technology which will use its analytic capabilities to add genetic data to its robust pipeline to help in therapeutic treatments for the disease.
Appointment of Committee Chairs
In a quarterly meeting held on May 8, 2019, Predictive Technology completed its board committee appointments. John Sorrentinothe Chairman announced that Jay Moyes will be chairing the Audit and Compliance Committee while Ron Barhorst will chair the Compensation Committee. Sorrentino will be chairing the Nominating Committee.
Sorrentino said that the board has made great progress in setting predictive technology’s future by filling the important roles and welcoming of new board members.
Submission of NASDAQ listing application
Predictive Technology management has submitted an application to list its common shares on the NASDAQ Exchange. This is subject to NASDAQ approval and fulfillment of the necessary listing standards.
MediPharm Labs Corp. (OTCMKTS – MEDIF) Announces Solid Results, Stock Doubles in Six Weeks
MediPharm Labs Corp. (OTCMKTS – MEDIF) stock has been on fire over the past six weeks amid several headlines by the company. MEDIF stock has jumped over 100% since March 2019. MediPharm’s stock is up another 5% in early trading session after hitting a new 52-week high of $4.99.
This morning, MediPharm reported solid revenue growth in its fiscal first quarter. The company’s revenue soared 115% year over year to $22 million. Moreover, gross margin was stood at 31%.
Adjusted EBITDA increased by 102% to $4.3 million, over Q4 2018, Adjusted EBITDA. Acquired more than 5,000 kg of dried cannabis in the last two weeks of Q1 from multiple Licensed Producers to fulfill robust demand for private label offerings.
Last week, MediPharm Labs begun trading under the symbol MEDIF after upgrading from OTCQB Venture Market to OTCQX Best Market. Additionally, The company also announced that it has received Depository Trust company eligibility for its common stock in the US.
DTC Eligibility
DTC eligibility simplifies the trading and transferring of common stock between brokerages in the United States. Patrick McCutcheon the CEO of MediPharm Labs stated that the company was delighted to receive DTC eligibility which will facilitate the trading of the company’s common stock in the markets. He added that they are also pursuing other opportunities to strengthen and enhance the company’s liquidity and value for stockholders while increasing accessibility for investors and institution in the US.
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MediPharm Labs common stock will be settled and distributed through the automated DTC processes which give greater efficiency at reduced costs because of the use of electronic clearing and accelerated settlement of securities.
Change Of Ticker Symbol
The company indicated t5hat FINRA had approved the change of their stock trading symbol from “MLCPF” to “MEDIF” on OTCQB Markets. McCutcheon stated that as a fully licensed producer, MediPharm has scaled its operations to become a dominant market Leader in the processing of cannabis and manufacture of high-quality cannabis pharmaceutical products. he added that the company has embarked on an ambitious plan to boost its international and local growth as they strive to become a market leader.
The upgrading from the OTCQB Market to the OTCQX Market is one of the steps the company is taking to attain accelerated growth and it also shows the commitment of the company to transparency and improving liquidity. It is also a way of enhancing MediPharm’s exposure and access to investors to be part of the success of the company.
Jason Paltrowitz the OTC Markets Group Executive Vice President of Corporate Services indicated that MediPharm Labs was among a number of leading companies and innovators in their industry that have joined OTCQX Best Market. He added that OTCQX enables companies to provide investors with a transparent public market to research and trade their shares.
Considering the recent rally in the stock, it would be interesting to see where the stock will go from here on.
Bitcoin (BTC) Price Continues To Hit Highs For 2019 On Positive Sentiment
During the 2017 bullish run, the markets of Bitcoin (BTC) and Altcoins were inversely correlated where one could surge at the expense of the other. Traders and investors used to switch between the two assets and considering there are so many stablecoins nowadays one could assume that the correlation diminished but it has grown stronger than ever.
BTC Up 3% Today
Bitcoin Price has been on the upward trend in recent weeks and it was up 3% on the day during the Asian trading this morning setting a new six month and 2019 high of $6,290. Since breaking the $6,000 barrier yesterday BTC has not dropped and its volume has increased to around $18 billion as it continues to push higher.
Since last Friday Bitcoin has been on the rise gaining 12% to outperform almost all competitors. Following this market dominance, this is the highest BTC has been in the past 17 months at 58.3%.
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Altcoins Continue To Take A Hammering
The 66% surge of bitcoin since the beginning of 2019 has been at the expense of Altcoins which are receiving a beating today. Although Ethereum is still flat its market share has nonetheless dropped below 10%. XRP has been on the fall but Ripple has been increasing its supply and currently it is below $0.30. Most of the major cryptocurrencies have been taking a beating and have dropped between 3% and 8% on the day.
In a tweet Bitcoin trader ‘SalsaTekila’ predicted that Bitcoin price will continue with the upward trend to over $6,400 before experiencing any kind of drop. This was 2018’s most traded price so there is a strong possibility as it is only $150 away from the present prices.
Usually, weekends are sluggish when it comes to crypto trading activity and thus if Bitcoin price remains above $6,000 then more gains should be expected. The crypto market currently looks like the Q3 2017 when BTC surged at altcoins’ expense.