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Home / Market Movers / Cannabis Stock Laggard: Med-Cannabis Pharma Inc (OTO:MCPI) Sheds 5.97% at Midday on December 30

Cannabis Stock Laggard: Med-Cannabis Pharma Inc (OTO:MCPI) Sheds 5.97% at Midday on December 30

Med-Cannabis Pharma Inc (OTO:MCPI) had a tough morning trading session on December 30, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with a slide of 5.97%. After closing the previous session at $0.185, shares of MCPI opened this morning at 0.185 and are trading at $0.174 at the lunch break. So far, about 5,863 shares have changed hands, compared to an average 30-day volume of 53,624 for Med-Cannabis Pharma Inc. Shares moved as high at $0.185 and as low as $0.1605 in AM trading action.

The share depreciation gives the company a market capitalization of $9.29 million based upon 50.22 million shares outstanding.

In the past 52 weeks, shares of Med-Cannabis Pharma Inc have traded as low as $0.02 and as high as $0.35. Technical traders will take note that at $0.174, shares of MCPI are trading above their 50-day moving average (MA) at $0.135 and above their 200-day MA at $0.083. 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 MCPI?

Med-Cannabis Pharma Inc is a development stage company. The company is led by its CEO R. Wayne Duke from its headquarters in Newport, OR.

For more information on MCPI 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 12:00PM ET.

About 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 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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