Insider Selling: Cannabis Science major shareholder Unloads 476,500 Shares of Stock (CBIS)
Cannabis Science (NASDAQ:CBIS) major shareholder Robert Melamede sold 476,500 shares of the stock on the open market in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $0.11, for a total value of $52,415.00. Following the completion of the sale, the insider now directly owns 48,803,533 shares in the company, valued at approximately $5,368,389. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of Cannabis Science (NASDAQ:CBIS) traded up 10.57% on Wednesday, hitting $0.1255. 26,835,068 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 $95.5 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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