CryoMass Technologies Inc. (OTCMKTS:CRYM) Stock Falls 17% In a Month: But Why?

CryoMass Technologies Inc. (OTCMKTS:CRYM) fell 3% after the company released its progress report.

Market Stats

On Monday, TLRS stock gained 3.11% at $0.1275 with more than 40.6k shares, compared to its average volume of 59k shares. The stock has moved within a range of $0.1245 – 0.1498 after opening trading at $0.1353.

CryoMass Technologies Releases Progress Report

The company indicated that on April 15, 2021, it contacted an independent engineering and manufacturing company to refine the design of the company’s cryo-mechanical system for harvesting cannabis, hemp, and other value plants. Notably, the system exploits the company’s proprietary process of controlled liquid nitrogen application in stabilizing and separating the structural components of plant material.

Currently, the device is under development and being scaled for highway mobility and optimized for affordable full intact cannabis and hemp trichomes collection. Notably, the device can be utilized in minutes after cutting the plants and capture trichomes efficiently from dried or frozen plant parts, including the trim. Interestingly, the device has around 600kg of plant material/hour throughput capacity.In September, the company received another patent for its process from the Chinese Intellectual Property process. Efforts are ongoing to protect the company’s IP in the EU and other jurisdictions. So, CRYM is worth watching.

Traders Corner

CRYM stock is trading below the 20-Day and 50-Day Moving averages of $0.34 and $0.40 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.32. The stock is down 25% in the past month.