It seems cannabis stocks are making a comeback once again and on Thursday it was the North American Cannabis Holdings Inc (OTCMKTS:USMJ) stock which managed to emerge as a major gainer as it ended the day with gains of as much as 20%.
Trading Data
On Thursday, USMJ stock moved up 20% to $0.0006 with more than 14.66 million shares, compared to its average volume of 53.03 million shares. The stock moved within a range of $0.0005 – 0.0006 after opening trading at $0.0006.
USMJ Confirms $20 Million Marijuana and CBD Sales Growth Plan
In light of such gains, it could be a good time for investors to consider taking a closer look at the announcement from the company yesterday. Yesterday, the company announced that it had put plans in place by way of which it seeks to add as much as $20 million in the form of extra sales.
It was a significant announcement from North American Cannabis Holdings considering the fact that its sales has been on the up thanks to its e-commerce operations.
Last week, North American Cannabis Holdings had actually provided an update to its shareholders through a letter from its Chief Executive Officer. In the letter, it had provided a detailed outline of the plans for boosting its sales by $20 million. At this point, it is going to be interesting to see if the North American Cannabis Holdings stock can add to its gains today and end the week on a high.
Technical Data
USMJ stock is trading below the 20-Day and 50-Day Moving averages of $0.0006 and $0.0006 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0007.
