Over the course of the past few trading days, the North American Cannabis Holdings Inc (OTCMKTS:USMJ) stock has been in the middle of a rollicking rally and it continued yesterday as the stock rallied by another 20% for the day. That took the gains of the stock over the course of the past week to as much as 50%.
Trading Data
On Thursday, USMJ stock gained 20% to $0.0006 with 110.74 million shares, compared to its average volume of 56.60 million shares. The stock moved within a range of $0.0004 – 0.0006 after opening trade at $0.0005.
USMJ Confirms $20 Million Marijuana and CBD Sales Growth Plans
In this situation, it may be a good idea for investors to consider taking a look at the announcement from the company yesterday. North American Cannabis announced yesterday that it had come up with a plan by way of which it could add as much as $20 million.
That was a major announcement from the company considering the fact that its sales are already on the rise from its eCommerce activities. In addition to that, the company also announced that the management was planning to showcase the highlights of its plans at a shareholder update that is all set to be sent out on March 29, 2022.
At this point in time, it may be a good move for investors to keep the stock in their watch lists and keep an eye on the price action in the coming days.
Technical Data
USMJ stock is above the 20-Day and 50-Day Moving averages of $0.0005 and $0.0005 respectively. However, the stock is trading below the 200-Day moving average of $0.0007.
