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Cannabis Stock Laggard: CannLabs Inc (OTO:CANL) Sheds 26.8% at Midday on August 4

CannLabs Inc (OTO:CANL) had a tough morning trading session on August 4, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with a slide of 26.8%. After closing the previous session at $0.25, shares of CANL opened this morning at 0.25 and are trading at $0.183 at the lunch break. So far, about 10,926 shares have changed hands, compared to an average 30-day volume of 5,221 for CannLabs Inc. Shares moved as high at $0.25 and as low as $0.183 in AM trading action.

The share depreciation gives the company a market capitalization of $15.66 million based upon 62.63 million shares outstanding.

In the past 52 weeks, shares of CannLabs Inc have traded as low as $0.07842 and as high as $0.93. Technical traders will take note that at $0.183, shares of CANL are trading below their 50-day moving average (MA) at $0.233 and below their 200-day MA at $0.27. 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 CANL?

CannLabs Inc is a solutions provider with intellectual property, proprietary cloud-based analytics & scientific methods for the cannabis industry. It also provides client education around safe cultivation, identifying contamination problems, among others. The company is led by its CEO Mark C. Mirken from its headquarters in Denver, CO.

For more information on CANL 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 12:00PM 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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