United Cannabis Corp (OTCMKTS:CNAB) fell 1.8% on Thursday . The company traded as low as $0.31 and last traded at $0.32, 105,849 shares changed hands during mid-day trading. A decline of 66% from the average session volume of 312,566 shares. The stock had previously closed at $0.32.

The stock’s 50 day moving average is $0.35 and its two-hundred day moving average is $0.41.

United Cannabis (OTCMKTS:CNAB) last announced its earnings results on Wednesday, August 14th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $3.96 million for the quarter.

In other news, major shareholder Tony Verzura sold 925,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $0.25, for a total transaction of $231,250.00. Following the completion of the transaction, the insider now directly owns 4,465,885 shares in the company, valued at approximately $1,116,471.25. The transaction was disclosed in a document filed with the SEC, which is available at this link.

About United Cannabis (OTCMKTS:CNAB)

United Cannabis Corporation owns intellectual properties related to growth, production, manufacture, marketing, management, utilization, and distribution of medical marijuana and marijuana infused products in the United States. The company focuses on developing therapeutics, including Prana Bio Nutrient Medicinal products for supplement deficiencies related to the endocannabinoid system, including pain, neuropathy, arthritis, MS, IBS, autism, seizures, eczema, sleep, anxiety, head trauma, opioid dependency, and clinical endocannabinoid deficiencies; and Prana Aromatherapy Transdermal Roll-on line that provides targeted and large surface relief with combinations of aromatherapy.

Further Reading: Understanding the two types of arbitrage

Receive News & Ratings for United Cannabis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Cannabis and related companies with MarketBeat.com's FREE daily email newsletter.