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Home / Market Movers / Cannabis Stock Laggard: Solis Tek Inc (OTCQB:SLTK) Sheds 6.67% in Early Trading on February 10

Cannabis Stock Laggard: Solis Tek Inc (OTCQB:SLTK) Sheds 6.67% in Early Trading on February 10

Solis Tek Inc (OTCQB:SLTK) 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 6.67%. After closing the previous session at $1.2, shares of SLTK opened this morning at $1.2 and are trading at $1.12 shortly after the opening bell. So far, about 2,859 shares have changed hands, compared to an average of 30-day volume of 448 for Solis Tek Inc. Shares moved as high at $1.2 and as low as $1.12 in today’s early action.

The share depreciation gives the company a market capitalization of $32.63 million based upon 29.66 million shares outstanding.

In the past 52 weeks, shares of Solis Tek Inc have traded as low as $0.25 and as high as $1.1. Technical traders will take note that at $1.12, shares of SLTK are trading above their 50-day moving average (MA) at $0.697 and above their 200-day MA at $0.553. 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 SLTK?

Solis Tek Inc is engaged in the research, design, development and manufacturing of energy efficient indoor horticulture lighting and ancillary equipment. The company is led by its CEO Diane S. Button from its headquarters in Carson, CA.

For more information on SLTK 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.

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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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