Cannonau (OTCMKTS:CNNC) Stock Declines 78% in a Month: Here is Why

The Cannonau Corp (OTCMKTS:CNNC) stock has recorded considerable declines over the past month and it continued on Wednesday as the stock tanked by another 32%.

 Yesterday’s losses took the decline over the course of the past month to as much as 78%. While there was no news about the company yesterday, it could be worthwhile to point out that around a month ago Cannonau had announced that it appointed Dr. Douglas Pitchford as its new medical advisor.

It is a significant appointment for the company considering the fact that Dr. Pitchford is highly knowledgeable with regards to the use of CBD for managing pain. In addition to that, he also uses CBD products from Cannonau and also prescribes the products to his patients in his capacity as a medical practitioner. Other than the announcement about this particular appointment, there has been no other news about Cannonau Corp in recent days.

Market Reaction:

On Wednesday, CNNC fell by 32% to $0.5100 with more than 1.66 million shares, compared to  its average volume of 242K shares. The stock has moved within a range of $0.4831 – 0.8090 after opening the trade at $0.8090.

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