Monarch America Inc (OTO:BTFL) 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 12.5% to close the day at $0.0007. Today’s drop came with about 29.13 million shares changing hands, compared to an average of 30-day volume of 14.32 million for BTFL.
The share depreciation gives the company a market capitalization of $91,142 based upon 113.93 million shares outstanding.
In the past 52 weeks, shares of BTFL have traded as low as $0.0001 and as high as $0.0019. Technical traders will take note that at 0.0007, shares of BTFL are trading above their 50-day moving average (MA) at $0.0 and above their 200-day MA at $0.0. 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 BTFL?
Monarch America Inc a fully-integrated cannabis management company engaged in sale and distribution of hydroponic lights and equipment and sales of specialty soil used in the growth of marijuana. The company is led by CEO from its headquarters in Denver, CO.
For more information on BTFL 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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