A look at MannKind Corporation — Potential Pop in a Speculative Stock
MannKind Corporation ($MNKD) averages are at $5.60 (21 day SMA), $5.34 (50 day SMA), $5.83 (200 day SMA). Over the past 52 weeks MNKD has traded from a low of $2.43 to a high of $8.70. MNKD was last at $5.77 on a volume of 4,199,090. Average daily volume has been at 6,560,485.
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MannKind (MNKD) is a biotech company that has an inhalant insulin delivery system (Afrezza) currently under review by the FDA. Assuming the FDA does finally approve Afrezza, this company will be poised to dominate the insulin delivery market due to the convenience of the delivery system. The stock has been been in consolidation after spiking to above $7 last month, with current support at approximately $5.00. Speculators may consider taking a position in this stock now while it is close to support. This is a volatile stock that is extremely sensitive to news events, so any position should be considered as a trade with a higher-than-average risk profile.
MannKind Corporation is engaged in the discovery, development, and commercialization of therapeutic products for diabetes and cancer in the United States.
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