The potential federal legalisation of marijuana in the United States remains the Holy Grail for the cannabis industry and yesterday, the management of Puration Inc (OTCMKTS:PURA) provided the highlights of the benefits of legalisation.
Trading Data
On Tuesday, PURA stock gained 1.06% to $0.0095 with more than 7.1 million shares, compared to its average Tuesday of 5.99 million shares. The stock moved within a range of $0.0093 – 0.0100 after opening trade at $0.0098.
PURA Sees Potential Boost From Federal Marijuana Legalization Up For House Vote
In this regard, it is perhaps also necessary for investors to note that over the course of the past week the company’s stock has also managed to clock considerable gains and recorded gains of 19% during the period. In addition to that, investors need to note that The House could vote on marijuana legalisation at some point this week and hence, the Puration stock could be in focus.
Yesterday, the company’s management announced that it was working towards making Farmersville Hemp Brand a disruptor at a multi-industry level.
On the other hand, it is also necessary to keep in mind that not too long ago the company had also made an announcement with regards to a strategy that would be aimed at bringing disruption to the global lumber industry that is valued at as much as $600 billion. It is going to be interesting to see how the stock performs over the course of this week as the House goes to vote on the pivotal motion.
Technical Data
PURA stock is trading above the 20-Day and 50-Day Moving averages of $0.0084 and $0.0079 respectively. However, the stock is trading below the 200-Day moving average of $0.0120.
