MedX Health Corp. (CVE:MDX) (PINK:MDXHF) stock price spiked up after the company declared they will accelerate new market entries for MoleMate.
MDX gained another 34.3% on Monday under a trading volume of 5.5 million, which was significantly above the average 748 thousand.
The price is rushing up within an uptrend, although it doesn’t look very stable with all the volatility surrounding the action. The stock encounters resistance around 26 cents per share, which could lead to another price breakout if the buying pressure continues.
The whole recent price appreciation can be related to the beginning of the marketing of their MolaMate product since it got approved for sale in Canada.
Monday’s price spike occurred when the company announced they will accelerate the new market entries for MoleMate product. MedX also declared their most recent quarter as the best one financially in the last three years. More information will be provided during the annual meeting of shareholders which is scheduled for March 13, 2012.
On February 29, MedX stock also spiked up when the producer of light imaging systems arranged a debt settlement with some of their officers. This allowed to restructure $1.3 million debt by issuing over 3.2 million shares priced in a range from 25 to 75 cents per share. This also showed the management’s strong belief in the future of their business as such stock pricing was up to three times more than the market price.
