The Daily Dab: A Quick Hit On Cannabis Stocks 12/23/13

Today was a day of multiple double-digit percentage moves in both directions, including in a new name The Daily Dab is now tracking:

Peoplestring (PLPE) is a new name added to the list, as its market cap has now exceeded $10mm for several days.  The company is changing its name to Vape Holdings and will soon trade under the symbol “VAPE”.  The stock, which was mentioned in this article published on Sunday,  has blasted up 8X over the past two months.  The volume today was the second-highest in terms of the numbers of shares since the move began and was double the one-month average.  Hemp, Inc. (HEMP) saw a huge gain on above-average but lower volume, regaining the recently broken level of $0.01. Endexx (EDXC) bounced back from recent declines.    GW Pharma (GWPH) filed a preliminary prospectus for an offering of up to $60mm last week and continued to rally.  The deal will take place after required shareholder approval in early January.  GrowLife (PHOT) rallied a third consecutive day, with volume improving again and above the one-month average.  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.   

Plandai Biotechnology (PLPL) plunged on very heavy volume, though below Friday’s 888K shares. AVT, Inc. (AVTC) endured a high-volume drop as well but closed significantly higher then the lows, which were just above the 52-week low of $1.20 from early October.  Medbox (MDBX) fell again after having rallied on Thursday, with volume escalating.  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 was supposed to appear on iCannabisRadio on Monday, but the show was postponed due to a health issue for the host.    Terra Tech (TRTC) gave up some recent gains for the third consecutive day following a 4-day rally, with volume rising.   CEO Derek Peterson participated in a live webinar on Wednesday, December 18th (slides and recording). 

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.