An announcement from Cannabix Technologies ( (TSE:BLO) ) is now available.
Cannabix Technologies has announced a non-exclusive distribution agreement with Alco Prevention Canada for its BreathLogix autonomous alcohol breathalyzer devices in North America. This agreement is expected to expand Cannabix’s market reach and enhance workplace safety by providing a cost-effective and efficient solution for alcohol testing in various industries, including construction and hospitality. The BreathLogix device offers innovative features such as pre-calibrated cartridges, contactless testing modes, and real-time reporting, making it a disruptive technology in the growing breath testing market.
Spark’s Take on TSE:BLO Stock
According to Spark, TipRanks’ AI Analyst, TSE:BLO is a Neutral.
Cannabix Technologies’ stock score is driven by its weak financial performance, characterized by zero revenue and continuous losses. Positive technical indicators and recent corporate events offering strategic advancements provide some optimism. However, the speculative nature of the stock, reflected in its negative P/E ratio, underscores the significant financial and operational risks.
To see Spark’s full report on TSE:BLO stock, click here.
More about Cannabix Technologies
Cannabix Technologies Inc. is a developer of marijuana and alcohol breath technologies for workplaces, law enforcement, and other settings. The company focuses on breath testing for delta-9 THC, the primary psychoactive ingredient in cannabis, and has developed the BreathLogix autonomous alcohol screening device to enhance alcohol safety and monitoring.
YTD Price Performance: 70.12%
Average Trading Volume: 89,589
Technical Sentiment Signal: Sell
Current Market Cap: $47.28M
For an in-depth examination of BLO stock, go to TipRanks’ Stock Analysis page.