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Home / Market Movers / Cannabis Stock Laggard: Med-Cannabis Pharma Inc (OTO:MCPI) Drops 12.39% for June 16

Cannabis Stock Laggard: Med-Cannabis Pharma Inc (OTO:MCPI) Drops 12.39% for June 16

Med-Cannabis Pharma Inc (OTO:MCPI) 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 12.39% to close the day at $0.07. Today’s drop came with about 1,500 shares changing hands, compared to an average of 30-day volume of 10,914 for MCPI.

The share depreciation gives the company a market capitalization of $4.01 million based upon 50.22 million shares outstanding.

In the past 52 weeks, shares of MCPI have traded as low as $0.035 and as high as $0.42. Technical traders will take note that at 0.07, shares of MCPI are trading below their 50-day moving average (MA) at $0.073 and below their 200-day MA at $0.12. 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 MCPI?

Med-Cannabis Pharma Inc is a development stage company. The company is led by CEO R. Wayne Duke from its headquarters in Carrollton, TX.

For more information on MCPI 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. 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 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:

About Jeremy Wilchek

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