Nanomix Corp (OTCMKTS:NNMX) Stock Suddenly Falls 26%: Here is Why

This past Friday there was no news about Nanomix Corp (OTCMKTS:NNMX) but that did not save the company’s stock from suffering from a steep selloff. As investors headed for the exits, the stock declined and ended the day with a decline of as much as 26%.

Market Stats

On Friday, NNMX stock slumped 26.50% at $0.0243 with more than 41k shares, compared to its average volume of 174k shares. The stock has moved within a range of $0.0210 – 0.0320 after opening trading at $0.0268.

Recent Development

While the decline in the stock may be alarming, it is perhaps also a good time to remember that there was no news in relation to Nanomix on Friday and many might feel that the selloff was perhaps random. In this context, it may be a good time to take a look at a development from back on November 15.

Not too long ago, the company had completed its merger with the company Boston Therapeutics. Following the merger, the company announced on November 15 this year that it had successfully concluded its name change to Nanomix Corporation from Nanomix Inc.

In addition to that, the ticker symbol of the company’s stock had also been changed to NNMX from BTHE. The stock started trading under the new symbol on November 15. The change of name and ticker symbol are both important developments that investors ought to keep in mind. However, it is unclear whether the stock tanked on Friday because of those changes.