If you have read my previous blog posts, you kind of have an impression of what MyDx is and what they provide. MyDx is a publicly traded company under the ticker symbol MYDX. MYDX trades on the pennystock market. That means that the stock is not on a major market exchange and exchanges at a relatively low price. At the time of writing, MYDX is trading at .0047 per share. The company has great potential, so should you invest in it? That’s up to you, but let me give you some information. In the end, you have to do your homework if you are going to invest in pennystocks.
States in the United States continue to legalize marijuana for either medical or recreational usage. Canada is expected to have a $50 billion cannabis industry by 2026, due to the 2018 legalization. This both is good news for weed stocks, including MYDX, as there is more demand for cannabis and MyDx will be able to sell more of their products.
The company has several income streams. These include data analytics, consumer products (such as the MyDx Analyzer), bio-pharmaceuticals, and Software As A Service (SAAS). They are also expecting to launch the AeroDx and ECO Smart Pen (you can read all about the ECO Smart Pen in my previous post) and that is expected to bring more revenue for MyDx Inc.
These are just a few things in the many things that are going on in the company. For more information about the company financially, go to their investor relations page (http://ir.cdxlife.com/). And base your decision whether to invest in this stock on your homework.