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Cannabis Stock Laggard: Canna Consumer Goods Inc (OTO:CBMJ) Drops 7.69% for October 31

Canna Consumer Goods Inc (OTO:CBMJ) suffered a bigger decline than most peers in the directory of the approximately 200 stocks we track in the cannabis industry on October 31, skidding 7.69% to close the day at $0.012. Today’s drop came with about 399,986 shares changing hands, compared to an average of 30-day volume of 279,212 for CBMJ.

The share depreciation gives the company a market capitalization of $495,440 based upon 38.11 million shares outstanding.

In the past 52 weeks, shares of CBMJ have traded as low as $0.0011 and as high as $0.02. Technical traders will take note that at 0.012, shares of CBMJ are trading above their 50-day moving average (MA) at $0.005 and above their 200-day MA at $0.003. 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 CBMJ?

Canna Consumer Goods Inc, through its wholly-owned subsidiary is engaged in providing branding and marketing solutions for cannabis companies on the West Coast states of Washington, Oregon & California for medical and/or recreational use. The company is led by CEO Mark Schaftlein from its headquarters in West Palm Beach, FL.

For more information on CBMJ and other companies focused on the expanding legal cannabis and medical marijuana industries or to considered for contributing content, visit today.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

About is a leading publisher of market news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the legal cannabis and medical marijuana markets. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts interested in all segments, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications and market exposure. A complete disclaimer can be viewed here.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:

About Jeremy Wilchek

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