Home / Consumer Goods / Consumer Goods Feel Drag of 17.11% Decline in Leading Brands Inc (LBIX) in Early Trading on September 22

Consumer Goods Feel Drag of 17.11% Decline in Leading Brands Inc (LBIX) in Early Trading on September 22

Leading Brands Inc (LBIX) started the trading day on a down note, making it one of the worst performing stocks in the consumer goods sector of NYSE and NASDAQ listed companies shortly after the opening bell on September 22. Shares of LBIX have fallen 17.11% about 30 minutes into the session to $1.89 after closing the day prior at $2.28. It’s early, but the stock has traded as high as $2.16 and as low as $1.89 so far. Today’s quick decline has come with about 28,068 shares changing hands, compared to an average 30-day volume of 32,541 for Leading Brands Inc. The price is currently below the 30-day volume weighted average price of $2.0 for LBIX.

The share depreciation gives the company a market capitalization of $6.52 million based upon 2.86 million shares outstanding. It also means that LBIX has a price-to-book ratio of 0.74:1.

In the past 52 weeks, shares of LBIX have traded as low as $1.3101 and as high as $3.76. Technical traders will take note that at $1.89, shares of LBIX are trading below their 200-day MA at $2.15 and below their 50-day MA at $2.14. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.

Who is LBIX?

Leading Brands Inc along with its subsidiaries engages in beverage bottling, distribution, sales, merchandising, brand development and brand management of beverage products. Its product line includes juices and premium beverages. The company’s 73 employees are led by CEO Ralph D. Mcrae from the corporate headquarters at 33 West 8th Avenue in Vancouver, BC.

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