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Home / Market Movers / Cannabis Stock Laggard: North American Cannabis Holdings Inc (OTO:USMJ) Sheds 12.5% in Early Trading on February 10

Cannabis Stock Laggard: North American Cannabis Holdings Inc (OTO:USMJ) Sheds 12.5% in Early Trading on February 10

North American Cannabis Holdings Inc (OTO:USMJ) is coming out weak in the morning trading session on February 10, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with an slide of 12.5%. After closing the previous session at $0.0008, shares of USMJ opened this morning at $0.0008 and are trading at $0.0007 shortly after the opening bell. So far, about 13.83 million shares have changed hands, compared to an average of 30-day volume of 389.07 million for North American Cannabis Holdings Inc. Shares moved as high at $0.0008 and as low as $0.0006 in today’s early action.

The share depreciation gives the company a market capitalization of $23,484 based upon 29.36 million shares outstanding.

In the past 52 weeks, shares of North American Cannabis Holdings Inc have traded as low as $1e-06 and as high as $0.0017. Technical traders will take note that at $0.0007, shares of USMJ are trading below their 50-day moving average (MA) at $0.001 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 support and resistance levels and because a move beneath them is typically regarded as bearish.

Who is USMJ?

North American Cannabis Holdings Inc is engaged in the business of hemp production in Vermont to supply seed to the expanding hemp farming market, hemp based consumer products market, and hemp based construction material market. The company is led by its CEO from its headquarters in Dallas, TX.


For more information on USMJ 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 9:30AM ET.

About PotNetwork.com

PotNetwork.com 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 PotNetwork.com. 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: http://potnetwork.com/legal-disclaimer/.

About Jeremy Wilchek

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