General Cannabis Corp (OTCMKTS:CANN) Slipping After Upward Run
General Cannabis Corp (OTCMKTS:CANN) had a pretty decent run up the charts in March and April, but began sliding down the charts as the volumes began to drop. The start of this month went pretty badly as we saw the ticker began to lose altitude faster.
Meanwhile, the company wasn’t too busy keeping the investor confidence. There were no new press releases and the latest news in the company’s feed was an earnings analysis for the first quarter of the year. Here is a quick look at some of the numbers of prime interest from CANN’s report.
- cash: $14 thousand
- current assets: $189 thousand
- current liabilities: $4.23 million
- quarterly revenues: $692 thousand
- quarterly net loss: $1.18 million
Those numbers certainly look bad, despite the fact that the revenues have grown on a year-over-year basis. Still, CANN somehow managed to surge up the charts earlier this month, without being aided by any press releases.
After the great performance, however, CANN began correcting. It closed Friday’s session with a 7.34% loss and dropped another 10.40% in the beginning of this week, sliding below the $1 mark. CANN finished yesterday’s session at $0.91 after a total of 97 thousand shares changed their owners and generated $93 thousand in daily dollar volume.
With no new press releases we see that CANN is a bit more stable today, but you should still be sure to do your due diligence and weigh out the risks before putting any money on the line.
