Market cap of BYND Cannasoft Enterprises Inc [BCAN] reaches 56.69M – now what?

BYND Cannasoft Enterprises Inc [NASDAQ: BCAN] closed the trading session at $1.43. The company report on March 26, 2024 at 8:32 AM that BYND Cannasoft Provides Business Update.

Vancouver, British Columbia –News Direct– BYND Cannasoft Enterprises.

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ASHKELON, Israel and VANCOUVER, British Columbia – TheNewswire – March 26, 2024 – BYND Cannasoft Enterprises Inc. (Nasdaq:BCAN) (“BYND Cannasoft” or the “Company”) an Israeli-based integrated software company, announced today that following the significant fundraising carried out by the company in the past month, the Company intends to use the liquid funds to penetrate into the developing global Femtech sector while suspending plans for the construction of the Company’s planned medical cannabis growing facility and focusing on trying to acquire companies, mainly in the field of CBD and Femtech business.

The stocks have a year to date performance of -97.79 percent and weekly performance of -63.29 percent. The stock has been moved at -99.25 percent over the last six months. The stock has performed -96.42 percent around the most recent 30 days and changed -98.04 percent over the most recent 3-months.

If compared to the average trading volume of 213.28K shares, BCAN reached to a volume of 3781727 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about BYND Cannasoft Enterprises Inc [BCAN]:

The Average True Range (ATR) for BYND Cannasoft Enterprises Inc is set at 3.48, with the Price to Sales ratio for BCAN stock in the period of the last 12 months amounting to 69.13. The Price to Book ratio for the last quarter was 1.56, with the Price to Cash per share for the same quarter was set at 0.04.

BCAN stock trade performance evaluation

BYND Cannasoft Enterprises Inc [BCAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -63.29. With this latest performance, BCAN shares dropped by -96.42% in over the last four-week period, additionally sinking by -99.25% over the last 6 months – not to mention a drop of -99.67% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BCAN stock in for the last two-week period is set at 17.94, with the RSI for the last a single of trading hit 12.38, and the three-weeks RSI is set at 22.24 for BYND Cannasoft Enterprises Inc [BCAN]. The present Moving Average for the last 50 days of trading for this stock 29.6858, while it was recorded at 2.2216 for the last single week of trading, and 191.7935 for the last 200 days.

BYND Cannasoft Enterprises Inc [BCAN]: An insightful look at the core fundamentals

BYND Cannasoft Enterprises Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.90 and a Current Ratio set at 9.90.

BYND Cannasoft Enterprises Inc [BCAN]: Institutional Ownership

The top three institutional holders of BCAN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BCAN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BCAN stock with ownership which is approximately 5.8325%.