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Cannabis Stock Laggard: CLS Holdings USA Inc (OTCQB:CLSH) Drops 19.34% for October 31

CLS Holdings USA Inc (OTCQB:CLSH) 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 19.34% to close the day at $1.03. Today’s drop came with about 89,888 shares changing hands, compared to an average of 30-day volume of 6,186 for CLSH.

The share depreciation gives the company a market capitalization of $25.99 million based upon 20.35 million shares outstanding.

In the past 52 weeks, shares of CLSH have traded as low as $0.45 and as high as $1.39. Technical traders will take note that at 1.03, shares of CLSH are trading above their 50-day moving average (MA) at $0.681 and above their 200-day MA at $0.872. 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 CLSH?

CLS Holdings USA Inc is a diversified cannabis company, specializing in the extraction and conversion of cannabinoids. It maintains a proprietary method of extracting various cannabinoids from the marijuana plant and converting them. The company is led by CEO Jeffrey I. Binder from its headquarters in Boulder, CO.

For more information on CLSH 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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