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Home / Market Movers / Cannabis Stock Laggard: General Cannabis Corp (OTCQB:CANN) Sheds 6.32% at Midday on December 15

Cannabis Stock Laggard: General Cannabis Corp (OTCQB:CANN) Sheds 6.32% at Midday on December 15

General Cannabis Corp (OTCQB:CANN) had a tough morning trading session on December 15, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with a slide of 6.32%. After closing the previous session at $2.77, shares of CANN opened this morning at 2.77 and are trading at $2.595 at the lunch break. So far, about 179,060 shares have changed hands, compared to an average 30-day volume of 480,990 for General Cannabis Corp. Shares moved as high at $2.79 and as low as $2.54 in AM trading action.

The share depreciation gives the company a market capitalization of $43.23 million based upon 15.61 million shares outstanding.

In the past 52 weeks, shares of General Cannabis Corp have traded as low as $0.325 and as high as $5.19. Technical traders will take note that at $2.595, shares of CANN are trading below their 50-day moving average (MA) at $3.522 and above their 200-day MA at $1.611. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath them is typically regarded as bearish.

Who is CANN?

General Cannabis Corp is engaged in acquisition and leasing of cultivation space and related facilities to licensed marijuana growers and dispensary owners for their operations. The company is led by its CEO Robert L. Frichtel from its headquarters in Denver, CO.

For more information on CANN 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 12:00PM ET.

About PotNetwork.com

PPotNetwork.com is a leading publisher of market news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the legal cannabis and medical marijuana markets. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts interested in all segments, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications and market exposure. A complete disclaimer can be viewed here.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of PotNetwork.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://potnetwork.com/legal-disclaimer/.

About Jeremy Wilchek

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