The disruptive cannabis technologies investor Cannabis Global Inc (OTCMKTS:CBGL) has generated considerable focus among investors in recent times and that can be gauged from the price action in its stock.
Trading Data
On Monday, CBGL stock decreased 3.10% to $0.0063 with more than 11.82 million shares, compared to its average Monday of 12.19 million shares. The stock moved within a range of $0.0061 – 0.0073 after opening trading at $0.0066
Cannabis Global CEO Talks Revenue Growth, New Products and Vertical Integration in Light of Possible Federal Cannabis Legalization
In the past week, the stock has emerged as one of the major movers in the cannabis space and generated gains of as much as 58% during the period. Yesterday, the company was in the news once again after its Chief Executive Officer came up with a letter to provide updates with regards to some of the recent as well as upcoming events at the company.
In the letter, the CEO noted that Cannabis Global was beginning to ‘gain traction’ and that has also been reflected by the growth in the revenues that have been generated by the company in several sectors.
He went on to state that while the company has not yet announced its financial results for the period that ended on February 28 this year, he did state that the ‘growth patterns’ are expected to continue into the near future. It now remains to be seen if the stock can manage to continue to add to its gains over the course of the coming days.
Technical Data
CBGL stock is trading above 20-Day and 50-Day Moving averages of $0.0045 and $0.0046 respectively. However, the stock is trading below the 200-Day moving average of $0.0250.
