Kanabo Group (LON:KNB) Shares Down 12% – Here’s What Happened

Shares of Kanabo Group Plc (LON:KNB) fell 12% during mid-day trading on Friday . The company traded as low as GBX 1.10 ($0.01) and last traded at GBX 1.10 ($0.01). 152,253 shares traded hands during trading, a decline of 67% from the average session volume of 461,108 shares. The stock had previously closed at GBX 1.25 ($0.02).

Kanabo Group Stock Performance

The stock has a fifty day simple moving average of GBX 1.20 and a 200-day simple moving average of GBX 1.46. The stock has a market cap of £7.08 million, a P/E ratio of -112.00 and a beta of 3.04. The company has a debt-to-equity ratio of 3.63, a quick ratio of 24.36 and a current ratio of 5.04.

Insider Activity

In related news, insider Ian Mattioli acquired 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was bought at an average price of GBX 1 ($0.01) per share, for a total transaction of £1,500 ($2,006.42). 37.01% of the stock is owned by corporate insiders.

About Kanabo Group

Kanabo Group Plc engages in the development and distribution of cannabis-derived solutions for medical and wellness products. It operates through Primary Care and Secondary Care segments. The company offers non- tetrahydrocannabinol products for cannabidiol consumers. It also provides cultivation consultancy, research and development, and telemedicine and tele pharma services, as well as develops and distributes formulations; operates ecommerce platform, the Kanabo Store; and operates Treat It, an online clinic that provides mental health treatments.