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Cannabis Stock Laggard: CannaSys Inc (OTO:MJTK) Sheds 8.86% in Early Trading on January 26

CannaSys Inc (OTO:MJTK) is coming out weak in the morning trading session on January 26, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with an slide of 8.86%. After closing the previous session at $0.0079, shares of MJTK opened this morning at $0.008 and are trading at $0.0072 shortly after the opening bell. So far, about 28.26 million shares have changed hands, compared to an average of 30-day volume of 90.58 million for CannaSys Inc. Shares moved as high at $0.008 and as low as $0.0072 in today’s early action.

The share depreciation gives the company a market capitalization of $197,899 based upon 25.05 million shares outstanding.

In the past 52 weeks, shares of CannaSys Inc have traded as low as $0.00155 and as high as $7.0. Technical traders will take note that at $0.0072, shares of MJTK are trading above their 50-day moving average (MA) at $0.004 and below their 200-day MA at $0.888. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath them is typically regarded as bearish.

Who is MJTK?

CannaSys Inc create, develop, and commercialize solutions for the expanding medical and recreational cannabis community. The Company do not grow, distribute, or sell cannabis. The company is led by its CEO Michael A. Tew from its headquarters in Denver, CO.

For more information on MJTK and other companies focused on the expanding legal cannabis and medical marijuana industries or to considered for contributing content, visit today.

All data provided by QuoteMedia and was accurate as of 9:30AM ET.

About is a leading publisher of market news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the legal cannabis and medical marijuana markets. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts interested in all segments, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications and market exposure. A complete disclaimer can be viewed here.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:

About Jeremy Wilchek

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