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Cannabis Stock Laggard: Cannabics Pharmaceuticals Inc (CNBX) Drops 8.03% for June 3

Cannabics Pharmaceuticals Inc (CNBX) suffered a bigger decline than most peers in the directory of the approximately 200 stocks we track in the cannabis industry on June 3, skidding 8.03% to close the day at $0.055. Today’s drop came with about 59,200 shares changing hands, compared to an average of 30-day volume of 47,844 for CNBX.

The share depreciation gives the company a market capitalization of $6.33 million based upon 105.93 million shares outstanding.

In the past 52 weeks, shares of CNBX have traded as low as $0.021 and as high as $0.22. Technical traders will take note that at 0.055, shares of CNBX are trading below their 50-day moving average (MA) at $0.073 and below their 200-day MA at $0.075. 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 CNBX?

Cannibics Pharmaceuticals Inc is a bio-tech company. The Company is engaged in pharmaceutical research, development and marketing of biotechnology therapies. The company is led by 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 4:30PM 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.

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About Jeremy Wilchek

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