In sliding 2.67%, POET Technologies Inc. (CDX:PTK:CA) was one of the worst performing stocks in the miscellaneous sector of the TSX Venture Exchange on February 16. After closing the previous session at $0.375, shares of PTK:CA opened this morning at $0.365 and closed the day at $0.365. Throughout the day, about 100,690 shares changed hands, compared to an average 30-day volume of 607,956 for POET Technologies Inc.. Shares moved as high as $0.37 and as low as $0.36 in today’s trading action.
The share depreciation gives the company a market capitalization of $97.25 million based upon 259.33 million shares outstanding.
In the past 52 weeks, shares of POET Technologies Inc. have traded as low as $0.27 and as high as $1.44. Technical traders will take note that at $0.365, shares of PTK:CA are trading above their 50-day moving average (MA) at $0.353 and below their 200-day MA at below $0.669. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath or holding under them is typically regarded as bearish.
Who is $POET Techs?
POET Technologies Inc, along with its subsidiaries, develops and designs semiconductor products using planar opto electronic technology for military and industrial applications. The company is led by its CEO Suresh Venkatesan from its headquarters at 121 Richmond Street West.
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About the TSX Venture Exchange
Owned and operated by the TMX Group, the TSX Venture Exchange is a public venture capital marketplace for emerging companies. It is headquartered in Calgary, Alberta, Canada with offices in Toronto, Vancouver and Montreal. All trading on the exchange is done electronically. Originally established in 1999, the “Venture,” as it is often shortened, was previously known as the Canadian Venture Exchange, but renamed in 2001 subsequent to the TSX Group (now known as the TMX Group) purchasing it.
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