NEW YORK, NY / ACCESSWIRE / July 12, 2018 / U.S. equities saw losses on Wednesday, breaking a winning streak of four consecutive days, as trade tensions grew following the White House's announcement of further tariffs on Chinese goods. The Dow Jones Industrial Average declined 0.88 percent to close at 24,700.45, while the S&P 500 Index dropped 0.71 percent to close at 2,774.02. The Nasdaq Composite Index shed 0.55 percent to close at 7,716.61.
“This is different from the other trade announcements, because the size is significantly larger, and because China is unable to directly reciprocate at $200 billion because they don’t import that much. It’s unclear what it might do next, but it is clearly another step closer to a full-blown trade war,” according to David Carter, chief investment officer at Lenox Wealth Advisors. “If the trade skirmish escalates into a full-blown trade war, that will be a bigger force in the markets than the strong fundamentals,” Carter added.
RDI Initiates Coverage on:
MYOS RENS Technology Inc.
Canopy Growth Corporation
MYOS RENS Technology's stock jumped 38.19% Wednesday, to close the day at $1.99. The stock recorded a trading volume of 9,911,719 shares, which was above its three months average volume of 41,155 shares. In the last year, MYOS RENS Technology's shares have traded in a range of 1.03 - 2.50. The share price has gained 93.2% from its 52 week low. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $1.49 is above its 200-day moving average of $1.39. Shares of MYOS RENS Technology have gained roughly 28.39 percent in the past month and are up 46.76 percent year-to-date.
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On Wednesday, shares of Canopy Growth recorded a trading volume of 3,562,798 shares, which was above the three months average volume of 2,043,145 shares. The stock ended the day 1.82% higher at $29.59. The share price has fallen 19.04% from its 52 week high with a 52 week trading range of 16.74 - 36.55. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $29.72 is above its 200-day moving average of $25.56. Shares of Canopy Growth have gained roughly 0.14 percent in the past month and are up 14.21 percent year-to-date.
Access RDI's Canopy Growth Corporation Research Report at:
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