Insider Selling: Cannabis Science Major Shareholder Sells 83,300 Shares of Stock (CBIS)
Cannabis Science (NASDAQ:CBIS) major shareholder Robert Melamede sold 83,300 shares of the stock on the open market in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $0.07, for a total value of $5,831.00. Following the completion of the sale, the insider now directly owns 50,257,033 shares of the company’s stock, valued at approximately $3,517,992. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Cannabis Science (NASDAQ:CBIS) traded up 14.21% on Monday, hitting $0.0691. 33,751,776 shares of the company’s stock traded hands. Cannabis Science has a 52 week low of $0.033 and a 52 week high of $0.12. The stock’s 50-day moving average is $0.04 and its 200-day moving average is $0.04. The company’s market cap is $52.6 million.
Cannabis Science, Inc is a development-stage company. Company works with world authorities on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce, and commercialize phytocannabinoid-based pharmaceutical products.
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