Yesterday, the diversified cannabis firm CLS Holdings USA Inc (OTCMKTS:CLSH) was in the news after the company made a major announcement. However, that did not lead to much joy for its shareholders as the CLS Holdings stock continued to trade in a range.
Trading Data
On Wednesday, CLSH stock slid 1.35% to $0.0989 with more than 73K shares, compared to its average volume of 62K shares. The stock has moved within a range of $0.0900 – 0.1200 after opening trade at $0.10.
Announces Its Branded Product Division City Trees Takes First Place Wins of High Times Cannabis Cup, in Two Categories
Yesterday, the company announced that City Trees ended up bagging the awards for the first two positions at the 2021 High Times Cannabis Cup: People’s Choice Edition. It is clearly a significant achievement for CLS Holdings and one that could bring its brands into further focus among consumers in the near future.
In this context, it is probably important to keep in mind that the event had the biggest collection of judges in history and hence, the award is a major win for the company. It was also announced yesterday that the limited release products from City Trees are going to be made available through a collection of small retailers who have actually supported the brand over the course of the past one year.
Although the stock did not move, it may now be a good move from investors to possibly add the CLS Holdings stock to your watch lists and see if it moves or not.
Key Quote
“This is a fantastic way to cap off a record year for City Trees. Our team is dedicated to producing the highest quality products from our state of the art innovation lab, and these awards are further testament to our hard work and dedication to our craft. We take pride in choosing the best cultivators to source fresh frozen and for this limited edition we knew The Grower Circle was a perfect fit to leverage our respective strengths to produce award winning products.” Said, Director of Laboratory Operations, Dominick Monaco, Pharm.D.
Technical Data
CLSH stock is trading below the 20-Day and 50-Day Moving averages of $0.1134 and $0.1340 respectively. Moreover, the stock is below 200-Day moving average of $0.1676.
