Americann Inc (OTCMKTS:ACAN) Stock Falls On Profit Booking
The Americann Inc (OTCMKTS:ACAN) stock did not start the week off in a strong note and declined by as much as 6% amidst a selloff. However, at the same time, it should be noted that despite the fall in the stock price the Americann stock is still up by as much as 7% over the past week.
Market Stats
On Monday, ACAN stock fell 6.25% to $0.60 with more than 6.88k shares, compared to its average volume of 16k shares. The stock has moved within a range of $0.5900 – 0.6395 after opening trading at $0.64.
Latest News
Yesterday, the company came into focus after it made an announcement with regards to a management discussion and also provided the details with regards to results from operations and its financial situation. It appears that investors were not particularly pleased with the revelations from Americann yesterday.
In the update, Americann noted that it had managed to boost its revenues for four quarters straight and that eventually helped the company in actually generating a profit in the quarter that had ended on September 30, 2021. In the fiscal year that had ended on September 30, 2021, the company had managed to boost its revenues by as much as 303%. On the other hand, the operating revenues in the quarter that ended on September 30, 2021 had gone up as by as much as 15% year on year.
Traders Corner
ACAN stock is trading below the 20-Day and 50-Day Moving averages of $.62 and $0.71 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.01.
