United Cannabis Corp (OTCQB:CNAB) outpaced most other peers in the directory of the approximately 200 stocks we track in the cannabis industry on October 31, gaining 37.11% to close the day at $2.18 after opening the trading day at $1.925. Today’s rise came with about 1.44 million shares changing hands, compared to an average of 30-day volume of 808,836 for United Cannabis Corp. Shares moved as high at $2.18 and as low as $1.65 in today’s action.
The share appreciation gives the company a market capitalization of $73.69 million based upon 46.35 million shares outstanding.
In the past 52 weeks, shares of United Cannabis Corp have traded as low as $0.001 and as high as $2.36. Technical traders will take note that at $2.18, shares of CNAB are trading above their 50-day moving average (MA) at $0.479 and above their 200-day MA at $0.325. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move above them is typically regarded as bullish.
Who is United Cannabis?
United Cannabis Corp, formerly Myskin, Inc., is a bio cannabinoid technologies company built on scientific research, product development, and implementation of its proprietary cannabinoid therapy program. The company is led by its CEO Earnest Blackmon from its headquarters in Denver, CO.
For more information on United Cannabis 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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