Solis Tek Inc (OTCQB:SLTK) 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 43.5% to close the day at $0.25. Today’s drop came with about 100 shares changing hands, compared to an average of 30-day volume of 115 for SLTK.
The share depreciation gives the company a market capitalization of $13.12 million based upon 29.66 million shares outstanding.
In the past 52 weeks, shares of SLTK have traded as low as $0.2 and as high as $1.0. Technical traders will take note that at 0.25, shares of SLTK are trading below their 50-day moving average (MA) at $0.523 and below their 200-day MA at $0.506. 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 SLTK?
Solis Tek Inc is engaged in the research, design, development and manufacturing of energy efficient indoor horticulture lighting and ancillary equipment. The company is led by CEO Diane S. Button from its headquarters in Carson, CA.
For more information on SLTK 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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