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Home / Market Movers / Cannabis Stock Laggard: Plandai Biotechnology Inc (OTO:PLPL) Sheds 14.29% at Midday on August 30

Cannabis Stock Laggard: Plandai Biotechnology Inc (OTO:PLPL) Sheds 14.29% at Midday on August 30

Plandai Biotechnology Inc (OTO:PLPL) had a tough morning trading session on August 30, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with a slide of 14.29%. After closing the previous session at $0.0245, shares of PLPL opened this morning at 0.0241 and are trading at $0.021 at the lunch break. So far, about 328,719 shares have changed hands, compared to an average 30-day volume of 323,242 for Plandai Biotechnology Inc. Shares moved as high at $0.0245 and as low as $0.021 in AM trading action.

The share depreciation gives the company a market capitalization of $4.57 million based upon 186.53 million shares outstanding.

In the past 52 weeks, shares of Plandai Biotechnology Inc have traded as low as $0.02 and as high as $0.15. Technical traders will take note that at $0.021, shares of PLPL are trading below their 50-day moving average (MA) at $0.036 and below their 200-day MA at $0.054. 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 Plandai Biotech?

Plandai Biotechnology Inc, together with its subsidiaries, is engaged in production of proprietary botanical extracts for the nutriceutical and pharmaceutical industries. The company is led by its CEO Roger Duffield from its headquarters in London, .

For more information on Plandai Biotech 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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