Ecosphere Techs Inc (OTCQB:ESPH) 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 11.5% to close the day at $0.05. Today’s drop came with about 129,109 shares changing hands, compared to an average of 30-day volume of 229,093 for ESPH.
The share depreciation gives the company a market capitalization of $9.81 million based upon 173.71 million shares outstanding.
In the past 52 weeks, shares of ESPH have traded as low as $0.02 and as high as $0.138. Technical traders will take note that at 0.05, shares of ESPH are trading above their 50-day moving average (MA) at $0.042 and above their 200-day MA at $0.047. 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 ESPH?
Ecosphere Technologies Inc is a technology development and intellectual property licensing company. It is engaged in developing patented solutions for the water, agriculture, energy and industrial markets. The company is led by CEO Dennis Mcguire from its headquarters in Stuart, FL.
For more information on ESPH 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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