Decibel Cannabis (CVE:DB) Stock Price Up 13% - Time to Buy?

Key Points

• The stock price of Decibel Cannabis Company Inc. (CVE:DB) increased by 13% during mid-day trading, reaching C$0.13 after closing at C$0.12.
• The company saw a significant rise in trading volume with approximately 693,983 shares changing hands, which is an increase of 162% compared to its average daily volume.
• Insider trading activity included purchases totaling 1,107,000 shares by company insiders in the last ninety days, indicating confidence in the company's future.

Decibel Cannabis Company Inc. (CVE:DB - )'s stock price was up 13% during mid-day trading on Wednesday . The stock traded as high as C$0.13 and last traded at C$0.13. Approximately 693,983 shares changed hands during mid-day trading, an increase of 162% from the average daily volume of 264,713 shares. The stock had previously closed at C$0.12.

Decibel Cannabis Price Performance

The business's 50 day moving average price is C$0.08 and its 200-day moving average price is C$0.07. The company has a market cap of C$51.13 million, a P/E ratio of -12.50 and a beta of 1.03.

Insider Buying and Selling at Decibel Cannabis

In other news, Director Jakob Ripshtein bought 361,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were bought at an average cost of C$0.08 per share, with a total value of C$27,075.00. Also, Senior Officer Benjamin Sze purchased 596,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was bought at an average price of C$0.08 per share, for a total transaction of C$44,700.00. Insiders purchased a total of 1,107,000 shares of company stock worth $82,275 over the last ninety days. 1.07% of the stock is currently owned by insiders.

Decibel Cannabis Company Profile

Decibel Cannabis Company Inc, an integrated cannabis company, engages in the cannabis cultivation, processing, and sale of cannabis flower products in Canada. It is also involved in the extraction, processing, and manufacturing vape cartridges, cannabis infused products, cannabis extracts, and glass tube packaging for pre-rolls.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.