General Cannabis Corp (OTCQB:CANN) 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 6.69% to close the day at $2.51. Today’s drop came with about 389,993 shares changing hands, compared to an average of 30-day volume of 295,305 for CANN.
The share depreciation gives the company a market capitalization of $41.99 million based upon 15.61 million shares outstanding.
In the past 52 weeks, shares of CANN have traded as low as $0.331 and as high as $5.19. Technical traders will take note that at 2.51, shares of CANN are trading below their 50-day moving average (MA) at $3.103 and above their 200-day MA at $1.881. 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 CANN?
General Cannabis Corp is engaged in acquisition and leasing of cultivation space and related facilities to licensed marijuana growers and dispensary owners for their operations. The company is led by CEO Robert L. Frichtel from its headquarters in Denver, CO.
For more information on CANN 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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