Generex Biotechnology (OTO:GNBT) 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 6.25%. After closing the previous session at $0.0048, shares of GNBT opened this morning at 0.005 and are trading at $0.0045 at the lunch break. So far, about 1.36 million shares have changed hands, compared to an average 30-day volume of 600,395 for Generex Biotechnology. Shares moved as high at $0.005 and as low as $0.004 in AM trading action.
The share depreciation gives the company a market capitalization of $4.34 million based upon 903.33 million shares outstanding.
In the past 52 weeks, shares of Generex Biotechnology have traded as low as $0.004 and as high as $0.0097. Technical traders will take note that at $0.0045, shares of GNBT are trading below their 50-day moving average (MA) at $0.006 and below their 200-day MA at $0.006. 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 GNBT?
Generex Biotechnology Corp is engaged in the research and development of drug delivery systems and technologies. The company is led by its CEO Mervyn Guy Fletcher from its headquarters in Toronto, ON.
For more information on GNBT 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.
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