Cannabis Sativa Inc (OTCQB:CBDS) suffered a bigger decline than most peers in the directory of the approximately 200 stocks we track in the cannabis industry on June 16, skidding 5.14% to close the day at $1.57. Today’s drop came with about 61,565 shares changing hands, compared to an average of 30-day volume of 58,455 for CBDS.
The share depreciation gives the company a market capitalization of $28.94 million based upon 17.48 million shares outstanding.
In the past 52 weeks, shares of CBDS have traded as low as $0.3 and as high as $3.73. Technical traders will take note that at 1.57, shares of CBDS are trading below their 50-day moving average (MA) at $1.992 and above their 200-day MA at $1.42. 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 CBDS?
Cannabis Sativa Inc and its subsidiary are engaged in research, development and licensing of specialized natural cannabis products, including cannabis formulas, edibles, topicals, strains, recipes and delivery systems. The company is led by CEO Mike Gravel from its headquarters in Mesquite, NV.
For more information on CBDS 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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