United Cannabis Corp (OTCMKTS:CNAB) Powerful Run Halted By Insider Selling

United Cannabis Corp (OTCMKTS:CNAB) powerful trend to the upside came to a halt last week after the stock closed on the red on shedding 19.49% in market value to close the week at a low of $1.90 a share. The Plunge, however, came on the heels of an impressive run in the broader sector in recent weeks. Insider selling in recent days on the stock appears to have triggered the pullback on Friday which many investors expect to correct heading into this week’ U.S elections.

With the cannabis industry expanding rapidly, there’s tremendous opportunity as the industry’s leading payment solution provider. Read more how this weed stands tall in a bright green field. 

U.S Election Talk                         

While the presidential elections remain the center of attention, nine states are poised to vote on whether to legalize medical marijuana. Growing investors’ confidence that the states will ratify has fueled a buying spree in the sector seen by the likes of United Cannabis stocks rallying in recent trading sessions.

Institutional investors also appear to have taken note of the expected expansion of the cannabis sector. As it stands, the sector could grow to $20 billion in revenue by 2020 something that most of these investors are eyeing with their latest investment push.

United Cannabis Corporation has already set its eye in accruing a substantial amount of market share as the cannabis sector continues to expand. The company is not only focused on pursuing growth opportunities in the U.S and Canada but as well as Puerto Rico where demand for medical marijuana is slowly picking up.

Puerto Rico Push

United Cannabis is fresh from signing a Memorandum of Understanding with Puerto Rican Health Management Company. Under the terms of the agreement, the company is to make its Prana Formulation as well as delivery methods, software and professional network available in the Puerto Rican market.

“The Puerto Rican market represents a real opportunity for expansion of our business model, and I believe that our ACT Now Program and Prana products provide us with a significant competitive advantage,” said CEO, Earnest Blackmon.

Initial estimates indicate that the Puerto Rico Market could grow to highs of $300 million in annual revenue by 2019 presenting another reliable revenue stream for United Cannabis Corp (OTCMKTS:CNAB).