Gala Global Inc (OTO:GLAG) 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 5.11% to close the day at $0.013. Today’s drop came with about 144,100 shares changing hands, compared to an average of 30-day volume of 175,860 for GLAG.
The share depreciation gives the company a market capitalization of $1.88 million based upon 136.92 million shares outstanding.
In the past 52 weeks, shares of GLAG have traded as low as $0.0022 and as high as $0.025. Technical traders will take note that at 0.013, shares of GLAG are trading above their 50-day moving average (MA) at $0.011 and above their 200-day MA at $0.009. 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 GLAG?
Gala Global Inc develops cannabinoid based health & wellness products and medical grade compounds. It also licenses proprietary testing, genetics, labeling & packaging, tracking, production, & standardization methods for the medicinal herb industry. The company is led by CEO George Lefevre from its headquarters in Las Vegas, NV.
For more information on GLAG 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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