American Cannabis Co Inc (OTCQB:AMMJ) outpaced most other peers in the directory of the approximately 200 stocks we track in the cannabis industry on June 16, gaining 11.49% to close the day at $0.485 after opening the trading day at $0.44. Today’s rise came with about 355,698 shares changing hands, compared to an average of 30-day volume of 177,790 for American Cannabis Co Inc. Shares moved as high at $0.51 and as low as $0.4 in today’s action.
The share appreciation gives the company a market capitalization of $22.37 million based upon 51.43 million shares outstanding.
In the past 52 weeks, shares of American Cannabis Co Inc have traded as low as $0.085 and as high as $2.1. Technical traders will take note that at $0.485, shares of AMMJ are trading below their 50-day moving average (MA) at $0.547 and below their 200-day MA at $0.678. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move above them is typically regarded as bullish.
Who is AMMJ?
American Cannabis Co Inc provides end-to-end consulting and product solutions for the medical, adult use and low-THC regulated cannabis markets both nationally and internationally. The company is working from its headquarters in Denver, CO.
For more information on AMMJ 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 4:30PM ET.
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/.