North American Cannabis Holdings Inc (OTO:USMJ) 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 16.67% to close the day at $0.0005. Today’s drop came with about 281.29 million shares changing hands, compared to an average of 30-day volume of 383.3 million for USMJ.
The share depreciation gives the company a market capitalization of $17,613 based upon 29.36 million shares outstanding.
In the past 52 weeks, shares of USMJ have traded as low as $1e-06 and as high as $0.0016. Technical traders will take note that at 0.0005, shares of USMJ are trading above their 50-day moving average (MA) at $0.0 and above their 200-day MA at $0.0. 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 USMJ?
North American Cannabis Holdings Inc is engaged in the business of hemp production in Vermont to supply seed to the expanding hemp farming market, hemp based consumer products market, and hemp based construction material market. The company is led by CEO from its headquarters in Dallas, TX.
For more information on USMJ 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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