United Cannabis Corp (OTCQB:CNAB) 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 7.1% to close the day at $1.57. Today’s drop came with about 802,672 shares changing hands, compared to an average of 30-day volume of 500,518 for United Cannabis.
The share depreciation gives the company a market capitalization of $80.84 million based upon 47.83 million shares outstanding.
In the past 52 weeks, shares of United Cannabis have traded as low as $0.001 and as high as $3.35. Technical traders will take note that at 1.57, shares of CNAB are trading above their 50-day moving average (MA) at $1.42 and above their 200-day MA at $0.583. 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 United Cannabis?
United Cannabis Corp, formerly Myskin, Inc., is a bio cannabinoid technologies company built on scientific research, product development, and implementation of its proprietary cannabinoid therapy program. The company is led by CEO Earnest Blackmon from its headquarters in Denver, CO.
For more information on United Cannabis 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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