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Home / Market Movers / Cannabis Stock Laggard: Novus Acqstn Dev Corp (OTO:NDEV) Sheds 5.41% in Early Trading on June 16

Cannabis Stock Laggard: Novus Acqstn Dev Corp (OTO:NDEV) Sheds 5.41% in Early Trading on June 16

Novus Acqstn Dev Corp (OTO:NDEV) is coming out weak in the morning trading session on June 16, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with an slide of 5.41%. After closing the previous session at $0.0148, shares of NDEV opened this morning at $0.0142 and are trading at $0.014 shortly after the opening bell. So far, about 10,000 shares have changed hands, compared to an average of 30-day volume of 161,848 for Novus Acqstn Dev Corp. Shares moved as high at $0.0142 and as low as $0.014 in today’s early action.

The share depreciation gives the company a market capitalization of $2.53 million based upon 171.01 million shares outstanding.

In the past 52 weeks, shares of Novus Acqstn Dev Corp have traded as low as $0.006 and as high as $0.12. Technical traders will take note that at $0.014, shares of NDEV are trading below their 50-day moving average (MA) at $0.016 and below their 200-day MA at $0.016. 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 Novus Acqstn?

Novus Acquisition & Development Corp is serving as a private equity firm for the purpose of self funding and/or acquiring one or more operating businesses.. The company is led by its CEO from its headquarters in Miami, FL.


For more information on Novus Acqstn 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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