Insider Selling: Robert Melamede Sells 248,800 Shares of Cannabis Science Stock (CBIS)
Cannabis Science (NASDAQ:CBIS) major shareholder Robert Melamede unloaded 248,800 shares of the company’s stock on the open market in a transaction dated Monday, January 13th. The stock was sold at an average price of $0.12, for a total value of $29,856.00. Following the completion of the transaction, the insider now directly owns 49,705,833 shares in the company, valued at approximately $5,964,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Cannabis Science (NASDAQ:CBIS) traded down 10.83% on Tuesday, hitting $0.1079. The stock had a trading volume of 27,924,058 shares. 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 $82.1 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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