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Home / Market Movers / Cannabis Stock Leader: Solis Tek Inc (OTCQB:SLTK) Advances 10.59% for May 17

Cannabis Stock Leader: Solis Tek Inc (OTCQB:SLTK) Advances 10.59% for May 17

Solis Tek Inc (OTCQB:SLTK) outpaced most other peers in the directory of the approximately 200 stocks we track in the cannabis industry on May 17, gaining 10.59% to close the day at $1.88 after opening the trading day at $1.655. Today’s rise came with about 216,221 shares changing hands, compared to an average of 30-day volume of 307,943 for Solis Tek Inc. Shares moved as high at $1.92 and as low as $1.63 in today’s action.

The share appreciation gives the company a market capitalization of $62.21 million based upon 36.59 million shares outstanding.

In the past 52 weeks, shares of Solis Tek Inc have traded as low as $0.25 and as high as $3.44. Technical traders will take note that at $1.88, shares of SLTK are trading above their 50-day moving average (MA) at $1.505 and above their 200-day MA at $0.85. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move above them is typically regarded as bullish.

Who is SLTK?

Solis Tek Inc is engaged in the research, design, development and manufacturing of energy efficient indoor horticulture lighting and ancillary equipment. The company is working from its headquarters in Carson, CA.

For more information on SLTK and other companies focused on the expanding legal cannabis and medical marijuana industries or to considered for contributing content, visit today.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

About is a leading publisher of market news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the legal cannabis and medical marijuana markets. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts interested in all segments, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications and market exposure. A complete disclaimer can be viewed here.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:

About Jeremy Wilchek

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