Medicine Man Technologies Inc. (OTCQB:MDCL) 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 8.42% to close the day at $2.5. Today’s drop came with about 35,220 shares changing hands, compared to an average of 30-day volume of 23,028 for Medicine Man Te.
The share depreciation gives the company a market capitalization of $27.55 million based upon 10.09 million shares outstanding.
In the past 52 weeks, shares of Medicine Man Te have traded as low as $1.36 and as high as $5.0. Technical traders will take note that at 2.5, shares of MDCL are trading below their 50-day moving average (MA) at $2.905 and above their 200-day MA at $2.191. 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 Medicine Man Te?
Medicine Man Technologies Inc is a cannabis consulting company. The Company provides consulting services for cannabis growing technologies and methodologies, as well as retail operations of cannabis products. The company is led by CEO Andrew Williams from its headquarters in South Denver, CO.
For more information on Medicine Man Te 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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