Cannabis Stock Laggard: Cannabics Pharmaceuticals Inc (OTCQB:CNBX) Sheds 10.25% at Midday on January 11

11/01/2017 18:25

Cannabics Pharmaceuticals Inc (OTCQB:CNBX) had a tough morning trading session on January 11, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with a slide of 10.25%. After closing the previous session at $0.75011, shares of CNBX opened this morning at 0.7605 and are trading at $0.6732 at the lunch break. So far, about 264,894 shares have changed hands, compared to an average 30-day volume of 325,635 for Cannabics Pharmaceuticals Inc. Shares moved as high at $0.761 and as low as $0.65 in AM trading action.

The share depreciation gives the company a market capitalization of $80.43 million based upon 107.22 million shares outstanding.

In the past 52 weeks, shares of Cannabics Pharmaceuticals Inc have traded as low as $0.021 and as high as $1.75. Technical traders will take note that at $0.6732, shares of CNBX are trading below their 50-day moving average (MA) at $0.739 and above their 200-day MA at $0.234. 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 CNBX?

Cannabics Pharmaceuticals Inc is engaged in the development & marketing of therapies & biotechnological tools aimed at providing relief from ailments that respond to active ingredients sourced from the cannabis plant. The company is led by its CEO Thomas E. Mills from its headquarters in Bethesda, MD.

For more information on CNBX 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 12:00PM ET.

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