This post first appeared on Micro Cap Daily

Cannabix Technologies Inc. (OTC Pink: BLOZF) stock price has seen a significant decline several times in the past 12 months. However, each drop was usually followed by another surge to more than a decent price, and the current one is likely to be no exception. The company’s stock price had seen a massive surge in June 2018, when the price jumped from $1.25 to over $2 within only a few days, What followed was several months of price decline, only to see another surge in August, from $1 to $1.70.

Then, another decline followed, only for the next surge to arrive in mid-September, when the price went from $1.25 to $1.75. This was followed by yet another drop, although this one was much longer, and it brought the price down to $0.75. It went up again in late December, and it reached $1.50 by late January. Since then, it has been on a decline for yet another time, and it was once again stopped by the support level at $0.75. It is currently trying to grow once more, but the resistance at $1 has proved to be more difficult to handle, causing a slight correction at the time of writing.

Who is Cannabix Technologies Inc.?

As the name suggests, Cannabix Technologies, Inc. is a marijuana-related company that produces breathalyzers — devices that can determine whether or not a person is under the influence of marijuana simply by their breath. The company had seen a lot of attention when it first appeared, as it offered a solution that can be used by law enforcement officers when they need to determine whether or not someone is under the influence of marijuana.

While the cannabis revolution did make the recreational use of marijuana legal in multiple US states, it is still against the law to drive or operate heavy machinery while experiencing its effects. Testing methods have, of course, been around for a long time now. However, Cannabix Technologies is the first company to offer a smaller, portable version that can quickly determine if an individual is under the influence simply by their breath.

Such technology was around only for detecting alcohol, while and with marijuana now being a legal substance, the law enforcement officers lacked an appropriate tool.

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Cannabix Technologies progress and development

As mentioned, the company has experienced a surge of popularity once it first came up with their design, and it was quickly asked to perfect it as soon as possible. The demand for such portable breathalyzer is massive now, that marijuana is getting legalized across the world.

The company then entered partnerships with other firms that would help improve the design and create a prototype, which has been proved to work during testing up to this point. Of course, in order to provide officers with a reliable product, perfecting the device is necessary, which is a long process, which often runs into difficulties. As a result, the company’s stock price would drop during these long periods, only to surge once more with each new positive, promising update.

The device should start appearing on the market soon, however, and when it does — Cannabix Technologies will experience a massive surge in its stock price. The company is likely to become one of the leading firms when it comes to breathalyzer production, if not the biggest one out there.

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With that in mind, it would be extremely beneficial for investors to purchase its stock price while it is low, and then watch their investment pay off in a matter of months. The firm is making progress, and the time for investing at a ‘discount’ is running short, so would-be investors need to hurry in order to take advantage of the situation. We will be updating on Cannabix when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Cannabix.

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Disclosure: we hold no position in Cannabix either long or short and we have not been compensated for this article.

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This post first appeared on Micro Cap Daily

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