The Daily Dab: A Quick Hit On Cannabis Stocks 12/10/13

Cannabis stock trading was highlighted by a high-volume decline in a key bellwether and a high volume-advance in a newcomer:

mCig (MCIG) posted a gain of almost 5% and crossed the 50dma on one of the biggest volume days in months.  Medbox (MDBX) remains in a downtrend, closing below the 10dma but rallying about 6% on slightly higher than average volume of the past month.  GrowLife (PHOT) continued to hold its recent gains, advancing modestly on lower than normal volume.  Rob Hunt, President of GrowLife Hydroponics, will be participating in a live webinar on Monday, December 16th (free registration).

Medical Marijuana, Inc. (MJNA) fell 9% on very heavy volume following a Seeking Alpha article that detailed litigation between it and Dixie Holdings.  MediSwip (MWIP) posted a new recent low as it declined 9% as well as it awaits a reverse split to take effect.  The VWAP on Hemp, Inc. (HEMP) declined again, though the stock stayed above yesterday’s 52-week low print of $0.0100.  Cannabis Science (CBIS) posted a 52-week low as it continued its slide on elevated volume.

The Daily Dab is brought to you by 420 Investor, a large and rapidly growing community of Green Rush investors seeking to capitalize on cannabis.  To learn more about the sector, download your free guide.  Also, please be sure to check out Arcview Market Research, where you can download the executive summary to their “The State of Legal Marijuana Markets 2nd Edition,” the definitive source for market sizes and high-level analysis of business trends in one of the fastest growing markets in the US.  Covering the medical marijuana and the emerging adult-use markets, the report provides a comprehensive overview and up-to-date data needed for those looking to expand their business, makes investments, or raise capital.