Canna Consumer Goods Inc (OTO:CBMJ) suffered a bigger decline than most peers in the directory of the approximately 200 stocks we track in the cannabis industry on December 15, skidding 30.6% to close the day at $0.0035. Today’s drop came with about 1.82 million shares changing hands, compared to an average of 30-day volume of 327,104 for CBMJ.
The share depreciation gives the company a market capitalization of $190,554 based upon 38.11 million shares outstanding.
In the past 52 weeks, shares of CBMJ have traded as low as $0.0011 and as high as $0.02. Technical traders will take note that at 0.0035, shares of CBMJ are trading below their 50-day moving average (MA) at $0.007 and below their 200-day MA at $0.004. 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 CBMJ?
Canna Consumer Goods Inc, through its wholly-owned subsidiary is engaged in providing branding and marketing solutions for cannabis companies on the West Coast states of Washington, Oregon & California for medical and/or recreational use. The company is led by CEO Mark Schaftlein from its headquarters in West Palm Beach, FL.
For more information on CBMJ 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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