CannLabs Inc (OTO:CANL) 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 7.41% to close the day at $0.25. Today’s drop came with about 25,026 shares changing hands, compared to an average of 30-day volume of 33,350 for CANL.
The share depreciation gives the company a market capitalization of $16.91 million based upon 62.63 million shares outstanding.
In the past 52 weeks, shares of CANL have traded as low as $0.07842 and as high as $1.0. Technical traders will take note that at 0.25, shares of CANL are trading below their 50-day moving average (MA) at $0.528 and below their 200-day MA at $0.321. 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 CANL?
CannLabs Inc is a solutions provider with intellectual property, proprietary cloud-based analytics & scientific methods for the cannabis industry. It also provides client education around safe cultivation, identifying contamination problems, among others. The company is led by CEO Mark C. Mirken from its headquarters in Denver, CO.
For more information on CANL 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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