Futureland Corp. (OTCQB:FUTL) suffered a bigger decline than most peers in the directory of the approximately 200 stocks we track in the cannabis industry on August 2, skidding 25.0% to close the day at $0.03. Today’s drop came with about 445,710 shares changing hands, compared to an average of 30-day volume of 108,216 for FUTL.
The share depreciation gives the company a market capitalization of $1.35 million based upon 33.87 million shares outstanding.
In the past 52 weeks, shares of FUTL have traded as low as $0.04 and as high as $2.5. Technical traders will take note that at 0.03, shares of FUTL are trading below their 50-day moving average (MA) at $0.109 and below their 200-day MA at $0.328. Technical analysts pay close attention to these key moving averages because they often serve as technical supports and move under them is typically regarded as bearish. Conversely, holding above these key moving averages or breaking over them is perceived as a sign of bullishness.
Who is FUTL?
FutureLand Corp is a cannabis and hemp land leasing company. The Company through its subsidiary is engaged in acquisition, zoning, license fulfillment, site plan preparation and financing of cannabis or hemp grow facilities throughout the United States. The company is led by CEO Keith Duffy from its headquarters in St. Petersburg, FL.
For more information on FUTL and other companies focused on the expanding legal cannabis and medical marijuana industries or to considered for contributing content, visit PotNetwork.com today.
All data provided by QuoteMedia and was accurate as of 4:30PM ET.
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