Cabinet Grow Inc (OTO:CBNT) suffered a bigger decline than most peers in the directory of the approximately 200 stocks we track in the cannabis industry on January 25, skidding 25.0% to close the day at $0.03. Today’s drop came with about 185,500 shares changing hands, compared to an average of 30-day volume of 41,597 for CBNT.
The share depreciation gives the company a market capitalization of $1.48 million based upon 37.06 million shares outstanding.
In the past 52 weeks, shares of CBNT have traded as low as $0.0028 and as high as $0.08. Technical traders will take note that at 0.03, shares of CBNT are trading above their 50-day moving average (MA) at $0.024 and above their 200-day MA at $0.016. 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 CBNT?
Cabinet Grow Inc is engaged in producing customized assembling cabinet based horticultural systems. The Company purchases cabinets as well as lights, filters and fans from third and assembles the parts into a finished horticulture cabinet for sale. The company is led by CEO Samuel May from its headquarters in West Palm Beach, FL.
For more information on CBNT 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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