Cannabis Stock Laggard Laguna Blends Inc Oto Lagbf Sheds 964% At Midday on February 9

Laguna Blends Inc (OTO:LAGBF) had a tough morning trading session on February 9, declining more than most other peers in the directory of approximately 200 stocks we track in the cannabis industry with a slide of 9.64%. After closing the previous session at $0.166, shares of LAGBF opened this morning at 0.1661 and are trading at $0.15 at the lunch break. So far, about 21,424 shares have changed hands, compared to an average 30-day volume of 108,508 for Laguna Blends Inc. Shares moved as high at $0.17 and as low as $0.15 in AM trading action.

The share depreciation gives the company a market capitalization of $4.68 million based upon 28.17 million shares outstanding.

In the past 52 weeks, shares of Laguna Blends Inc have traded as low as $0.069 and as high as $0.34255. Technical traders will take note that at $0.15, shares of LAGBF are trading below their 50-day moving average (MA) at $0.151 and below their 200-day MA at $0.168. 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 LAGBF?

Laguna Blends Inc is engaged in sale of nutritional health products derived from hemp. It offers hemp protein, Pro369, and protein coffee. The company is led by its CEO from its headquarters in Kelowna, BC.

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

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

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Source: Pot Network