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Home / Market Movers / Cannabis Stock Laggard: Cannabics Pharmaceuticals Inc (CNBX) Sheds 7.1% in Early Trading on June 13

Cannabis Stock Laggard: Cannabics Pharmaceuticals Inc (CNBX) Sheds 7.1% in Early Trading on June 13

Cannabics Pharmaceuticals Inc (CNBX) is coming out weak in the morning trading session on June 13, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with an slide of 7.1%. After closing the previous session at $0.0549, shares of CNBX opened this morning at $0.051 and are trading at $0.051 shortly after the opening bell. So far, about 600 shares have changed hands, compared to an average of 30-day volume of 54,003 for Cannabics Pharmaceuticals Inc. Shares moved as high at $0.051 and as low as $0.051 in today’s early action.

The share depreciation gives the company a market capitalization of $5.82 million based upon 105.93 million shares outstanding.

In the past 52 weeks, shares of Cannabics Pharmaceuticals Inc have traded as low as $0.021 and as high as $0.22. Technical traders will take note that at $0.051, shares of CNBX are trading below their 50-day moving average (MA) at $0.071 and below their 200-day MA at $0.071. 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?

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 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 PotNetwork.com today.

All data provided by QuoteMedia and was accurate as of 9:00AM 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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