At this point in time, CBD of Denver Inc (OTCMKTS:CBDD) is one of the biggest players in the CBD, cannabis flower and CBD oil products distribution space in Switzerland and the rest of Europe.
Trading Data
On Tuesday, CBDD stock ended flat at $0.0049 with more than 25.88 million shares, compared to its average volume of 12.79 million shares. The stock has moved within a range of $0.0047 – 0.0060 after opening trade at $0.0049.
CBD of Denver Enhances Shareholder Communications with Appointment of Nicholas Sprung to Its Board
However, the company’s stock has not managed to perform well in recent days and over the course of the past week, it has declined by as much as 15%. On Tuesday, CBD of Denver was in the news after it announced that it had appointed Nicholas Sprung to its Board of Directors. In this context, it is also necessary to point out that Sprung is a former President and Chief Executive Officer of CBD of Denver.
Hence, the appointment is an interesting one considering the fact that Sprung is intimately aware of the business and its history. As a member of the company’s board, Sprung is going to be responsible for taking care of communications with investors.
Both existing shareholders as well as prospective ones are going to fall under his purview. Sprung noted in a statement that CBD of Denver had been under a certain degree of constraint when it came to investor communications with Switzerland and hence, the management is looking to improve on that front.
Technical Data
CBDD stock is trading below the 20-Day and 50-Day Moving averages of $0.0059 and $0.0065 respectively. However, the stock is above 200-Day moving average of $0.0117. The stock is down 13% in the past month.
