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 PotNetwork.com today.
All data provided by QuoteMedia and was accurate as of 12:00PM ET.
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