Home / Consumer Goods / Midday Laggard: Leading Brands Inc (LBIX) a Drain on Consumer Goods Sector, Sheds 4.02% on September 23

Midday Laggard: Leading Brands Inc (LBIX) a Drain on Consumer Goods Sector, Sheds 4.02% on September 23

Leading Brands Inc (LBIX) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the consumer goods sector halfway through the trading day. At the lunch break, shares of LBIX have fallen 4.02% to $1.91 after closing the day prior at $1.99. So far, the stock has traded as high as $2.06 and as low as $1.91. Today’s decline has come with about 20,085 shares changing hands, compared to an average 30-day volume of 38,182 for Leading Brands Inc. The price is currently below the 30-day volume weighted average price of $1.96 for LBIX.

The share depreciation gives the company a market capitalization of $5.69 million based upon 2.86 million shares outstanding. It also means that LBIX has a price-to-book ratio of 0.64:1.

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 $1.91, shares of LBIX are trading below their 200-day MA at $2.15 and below their 50-day MA at $2.15. 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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