Sipp Industries Inc New (SIPC) suffered a bigger decline than most peers in the directory of the approximately 200 stocks we track in the cannabis industry on June 6, skidding 5.33% to close the day at $0.0071. Today’s drop came with about 1.24 million shares changing hands, compared to an average of 30-day volume of 2.0 million for Sipp Industries.
The share depreciation gives the company a market capitalization of $3.81 million based upon 508.36 million shares outstanding.
In the past 52 weeks, shares of Sipp Industries have traded as low as $0.0011 and as high as $0.017. Technical traders will take note that at 0.0071, shares of SIPC are trading below their 50-day moving average (MA) at $0.011 and above their 200-day MA at $0.005. 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 Sipp Industries?
Sipp Industries Inc is engaged in marketing and selling Plasma Lighting solutions for indoor horticulture applications as well as hemp ingredients, CBD supply, co-packing and private labeling services for hemp related products. The company is led by CEO from its headquarters in Costa Mesa, CA.
For more information on Sipp Industries 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 4:30PM ET.
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