The latest update is out from Cannabix Technologies ( (TSE:BLO) ).
Cannabix Technologies has announced that its BreathLogix Workplace Series alcohol breathalyzer has received approval from the U.S. National Highway Traffic Safety Association (NHTSA). This approval allows the device to be listed on the U.S. Federal Register Conforming Products List for breath alcohol screening devices. The BreathLogix device is designed for rapid alcohol detection and includes features such as real-time alerts to managers, photo identification, and integration with various access systems. It targets a wide range of safety-sensitive industries, including transportation and healthcare. The company is in discussions with potential distributors to market the device in the U.S. and other regions, which could significantly enhance its market presence and operational impact.
Spark’s Take on TSE:BLO Stock
According to Spark, TipRanks’ AI Analyst, TSE:BLO is a Underperform.
Cannabix Technologies has a low overall stock score due to severe financial challenges, characterized by zero revenue and ongoing losses. While technical indicators and recent corporate developments provide some optimism, the company’s speculative valuation and financial instability remain significant concerns.
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 designed for workplaces, law enforcement, and other settings. The company focuses on breath testing for delta-9 THC, the primary psychoactive component 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: 89,393
Technical Sentiment Signal: Sell
Current Market Cap: $46.71M
Find detailed analytics on BLO stock on TipRanks’ Stock Analysis page.