ALR Technologies (OTCMKTS:ALRT) Stock Falls After The Recent Jump
Diabetes management company ALR Technologies (OTCMKTS:ALRT) emerged as one of the notable laggards yesterday as it ended the day with a decline of as much as 10%. This morning investors might be hoping for the stock to make a quick recovery and hence, it might be a good idea to take a closer look at the announcement made by the company yesterday.
Market Action:
On Thursday, ALRT stock slid 10.33% at $0.0538 with more than 222.32K shares, compared to its average volume of 91.33K shares. The stock has moved within a range of $0.0538 – 0.0600 after opening the trade at $0.0600.
Releases Select Results from Market Research on Diabetic Pet Industry; Market Demand High for Innovation
ALR Technologies announced the selected results that had been derived from the deep market research that had been overseen by SmartPharma, a consultancy firm. The market research included a look into glucose monitoring, diabetes diagnosis and also insulin treatment for pets like dogs and cats.
The inference from the research suggests that there is considerable demand in the market for innovative and modern products. It goes without saying that such an inference is a positive one for ALR Technologies.
However, the findings did not quite thrill investors and the stock suffered from a sharp selloff. The company also noted that the findings are favourable with regards to its plans of launching its product GluCurve™ Pet CGM for the diabetic dogs and cats in the world. It might be a good idea for investors to keep an eye on the stock this morning.
