MCIG Inc (OTCQB:MCIG) 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 7.69% to close the day at $0.03. Today’s drop came with about 689,090 shares changing hands, compared to an average of 30-day volume of 378,197 for MCIG Inc.
The share depreciation gives the company a market capitalization of $9.77 million based upon 300.63 million shares outstanding.
In the past 52 weeks, shares of MCIG Inc have traded as low as $0.0181 and as high as $0.069. Technical traders will take note that at 0.03, shares of MCIG are trading below their 50-day moving average (MA) at $0.037 and below their 200-day MA at $0.033. 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 MCIG Inc?
mCig Inc is a technology company. It is engaged in manufacturing and retailing of loose-leaf Ecig. The company is led by CEO Paul B. Rosenberg from its headquarters in Beverly Hills, CA.
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All data provided by QuoteMedia and was accurate as of 4:30PM ET.
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