Cannabis Stock Laggard Axim Biotechnologies Inc Otcqb Axim Sheds 513% At Midday on March 1

Axim Biotechnologies Inc (OTCQB:AXIM) had a tough morning trading session on March 1, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with a slide of 5.13%. After closing the previous session at $9.75, shares of AXIM opened this morning at 9.65 and are trading at $9.25 at the lunch break. So far, about 31,644 shares have changed hands, compared to an average 30-day volume of 90,050 for Axim Biotechnologies Inc. Shares moved as high at $9.75 and as low as $9.25 in AM trading action.

The share depreciation gives the company a market capitalization of $502.05 million based upon 51.49 million shares outstanding.

In the past 52 weeks, shares of Axim Biotechnologies Inc have traded as low as $0.21 and as high as $19.8. Technical traders will take note that at $9.25, shares of AXIM are trading below their 50-day moving average (MA) at $11.148 and above their 200-day MA at $3.974. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath them is typically regarded as bearish.

Who is AXIM?

Axim Biotechnologies Inc is a development stage company. The company is led by its CEO George E. Anastassov from its headquarters in New York, NY.

For more information on AXIM and other companies focused on the expanding legal cannabis and medical marijuana industries or to considered for contributing content, visit PotNetwork.com today.

All data provided by QuoteMedia and was accurate as of 12:00PM ET.

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Source: Pot Network