The Daily Dab: A Quick Hit On Cannabis Stocks 12/19/13

Cannabis stocks were quite mixed, with a few high-volume moves:

Medbox (MDBX) reversed its recent large decline as volume dropped though remained above average.  The company dropped its S-1 filing with the SEC, giving up its attempt to sell 3mm shares for the company and additional shares for insiders and other holders of restricted stock.  The company also announced a 2-1 split which was quite unconventional.  On the one hand, shareholders benefit because 1/2 of the potential shares (3mm convertible preferreds that could convert to 15mm shares) were excluded.  The common holders will now own about 2/3 of the company on a converted basis, up from slightly less than 1/2.  On the other hand, shareholders will be receiving restricted stock and may be unable to sell it for up to a year, forcing them to hold 1/2 their position indefinitely.  COO and Founder Vincent Mehdizadeh will appear on iCannabisRadio on Monday at 5PM EST.  GrowLife (PHOT) bounced back from profit-taking.  While it had the highest dollar-value of trading, the number of shares that changed hands declined to below the average of the past month.  Rob Hunt, President of GrowLife Hydroponics participated in a webinar on Monday, December 16th.  You can view the 90-minute presentation and Q&A or a 8-minute synopsis.  mCig (MCIG) again extended its recent rally as volume lifted to the highest levels of the year. 

MediSwipe (MWIPD), which recently reverse-split (1:10), continued to get battered.  Hemp, Inc. (HEMP) finally broke the .01 level as volume increased to above-average levels.  Terra Tech (TRTC) gave up some recent gains following a 4-day rally, but volume, which declined, remained elevated.   CEO Derek Peterson participated in a live webinar on Wednesday, December 18th (slides).  Cannabis Science (CBIS) matched its recent 52-week low as volume escalated.

LEARN HOW TO INCREASE YOUR TRADING PROFITS IN 2014

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.  For just a dollar a day on an annual subscription ($360), you can get all of the benefits of being a part of 420 Investor, including analysis, alerts, trade recommendations, chat and video updates.  Find out why 420 Investors are addicted to the service.  To learn more about the sector, download your free guide.