Cannara Biotech (OTCMKTS:CNBTF) Stock Price Up 0.9% – Here’s Why

Shares of Cannara Biotech (OTCMKTS:CNBTF) shot up 0.9% on Thursday. The company traded as high as $1.56 and last traded at $1.5140. 57,000 shares were traded during mid-day trading, an increase of 72% from the average session volume of 33,127 shares. The stock had previously closed at $1.50.

Cannara Biotech Price Performance

The firm has a 50-day simple moving average of $1.42 and a 200-day simple moving average of $1.32.

Cannara Biotech Inc (OTCMKTS:CNBTF) is a Canadian cannabis company focused on the cultivation, processing and sale of indoor-grown cannabis and cannabis products. The company operates as a vertically integrated business, managing activities across cultivation, manufacturing, product development and distribution.

Cannara produces a range of cannabis offerings, including dried flower, pre-rolls, cannabis concentrates, hash, vaporizers and other cannabis-derived products. Its portfolio includes brands such as Tribal, Nugz and Orchid CBD, which are marketed through Canada’s regulated cannabis channels.

The company is based in Quebec and serves the Canadian cannabis market.