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Cannabis Stock Laggard: Gear International Inc (OTO:GEAR) Drops 25.0% for December 30

Gear International Inc (OTO:GEAR) suffered a bigger decline than most peers in the directory of the approximately 200 stocks we track in the cannabis industry on December 30, skidding 25.0% to close the day at $0.0003. Today’s drop came with about 683,980 shares changing hands, compared to an average of 30-day volume of 221,588 for GEAR.

The share depreciation gives the company a market capitalization of $1.42 million based upon 3.55 billion shares outstanding.

In the past 52 weeks, shares of GEAR have traded as low as $0.0001 and as high as $0.001. Technical traders will take note that at 0.0003, shares of GEAR are trading above their 50-day moving average (MA) at $0.0 and above their 200-day MA at $0.0. 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 GEAR?

GEAR International Inc has recently altered its business strategy to include gold and silver mining, providing financing for gold and silver mining projects, and precious metals processing and refining. The company is led by CEO from its headquarters in Pensacola, FL.

For more information on GEAR and other companies focused on the expanding legal cannabis and medical marijuana industries or to considered for contributing content, visit today.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

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DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of 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:

About Jeremy Wilchek

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