Novus Acquisition and Development, Corp. (OTO:NDEV) suffered a bigger decline than most peers in the directory of the approximately 200 stocks we track in the cannabis industry on December 14, skidding 26.82% to close the day at $0.3586. Today’s drop came with about 1.96 million shares changing hands, compared to an average of 30-day volume of 674,278 for Novus Acqstn.
The share depreciation gives the company a market capitalization of $83.8 million based upon 171.01 million shares outstanding.
In the past 52 weeks, shares of Novus Acqstn have traded as low as $0.006 and as high as $0.559. Technical traders will take note that at 0.3586, shares of NDEV are trading above their 50-day moving average (MA) at $0.262 and above their 200-day MA at $0.088. 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 Novus Acqstn?
Novus Acquisition & Development Corp is a holding company. The Company through its holdings offers health, life, and annuity insurance products and services. The company is led by CEO from its headquarters in Miami, FL.
For more information on Novus Acqstn 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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