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Home / Market Movers / Cannabis Stock Laggard: Sipp Industries Inc New (OTO:SIPC) Sheds 10.71% at Midday on October 31

Cannabis Stock Laggard: Sipp Industries Inc New (OTO:SIPC) Sheds 10.71% at Midday on October 31

Sipp Industries Inc New (OTO:SIPC) had a tough morning trading session on October 31, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with a slide of 10.71%. After closing the previous session at $0.00896, shares of SIPC opened this morning at 0.0095 and are trading at $0.008 at the lunch break. So far, about 356,500 shares have changed hands, compared to an average 30-day volume of 2.79 million for Sipp Industries Inc New. Shares moved as high at $0.0098 and as low as $0.008 in AM trading action.

The share depreciation gives the company a market capitalization of $4.55 million based upon 508.36 million shares outstanding.

In the past 52 weeks, shares of Sipp Industries Inc New have traded as low as $0.0011 and as high as $0.017. Technical traders will take note that at $0.008, shares of SIPC are trading above their 50-day moving average (MA) at $0.006 and above their 200-day MA at $0.006. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath them is typically regarded as bearish.

Who is Sipp Industries?

Sipp Industries Inc is engaged in marketing and selling Plasma Lighting solutions for indoor horticulture applications as well as hemp ingredients, CBD supply, co-packing and private labeling services for hemp related products. The company is led by its CEO from its headquarters in Costa Mesa, CA.


For more information on Sipp Industries 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 12:00PM ET.

About PotNetwork.com

PPotNetwork.com 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 PotNetwork.com. 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: http://potnetwork.com/legal-disclaimer/.

About Jeremy Wilchek

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