Cannabis Science major shareholder Robert Melamede Sells 425,800 Shares (CBIS)
Cannabis Science (NASDAQ:CBIS) major shareholder Robert Melamede sold 425,800 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $0.10, for a total transaction of $42,580.00. Following the completion of the sale, the insider now directly owns 49,280,033 shares of the company’s stock, valued at approximately $4,928,003. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Cannabis Science (NASDAQ:CBIS) traded down 9.78% on Thursday, hitting $0.083. 28,751,320 shares of the company’s stock traded hands. Cannabis Science has a 1-year low of $0.033 and a 1-year 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 $63.2 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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