CLS Holdings USA Inc (OTCQB:CLSH) 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 18.38% to close the day at $0.302. Today’s drop came with about 13,541 shares changing hands, compared to an average of 30-day volume of 6,188 for CLSH.
The share depreciation gives the company a market capitalization of $7.53 million based upon 20.35 million shares outstanding.
In the past 52 weeks, shares of CLSH have traded as low as $0.2 and as high as $1.83. Technical traders will take note that at 0.302, shares of CLSH are trading below their 50-day moving average (MA) at $0.548 and below their 200-day MA at $0.738. 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 CLSH?
CLS Holdings USA Inc is a diversified cannabis company, specializing in the extraction and conversion of cannabinoids. It maintains a proprietary method of extracting various cannabinoids from the marijuana plant and converting them. The company is led by CEO Jeffrey I. Binder from its headquarters in Boulder, CO.
For more information on CLSH 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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