WEED INC. (OTO:BUDZ) 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 17.74% to close the day at $0.51. Today’s drop came with about 138,901 shares changing hands, compared to an average of 30-day volume of 24,845 for BUDZ.
The share depreciation gives the company a market capitalization of $8.52 million based upon 13.74 million shares outstanding.
In the past 52 weeks, shares of BUDZ have traded as low as $0.043 and as high as $1.09. Technical traders will take note that at 0.51, shares of BUDZ are trading below their 50-day moving average (MA) at $0.604 and above their 200-day MA at $0.213. 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 BUDZ?
Weed Inc is engaged in purchasing land and building commercial grade cultivation centers for the legal and medical marijuana sector in the United States. The company is led by CEO Lawrence G. Dykers from its headquarters in Tucson, AZ.
For more information on BUDZ 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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