The Daily Dab: A Quick Hit On Cannabis Stocks 12/26/13

Some of the very worst cannabis stocks in 2013 enjoyed rebounds, and one thin stock exploded to the upside:

CannaVest (CANV) traded on small but above-average volume, posting an all-time high and raising questions about the wisdom of paying so much for a stock where the company is actively trying to sell shares at $1.  Hemp, Inc. (HEMP) bounced sharply on above-average volume.  The stock has been one of the worst performers in the sector this year, down still more than 50%.  Similarly, Cannabis Science (CBIS) bounced as well on heavy volume, though it remains down 32%.   Peoplestring (PLPE) is a new name added to this list recently, 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 almost 10X over the past two months.    Terra Tech (TRTC) reversed course after four consecutive declines that had followed a 4-day rally.   CEO Derek Peterson participated in a live webinar on Wednesday, December 18th (slides and recording).  Medical Marijuana, Inc. (MJNA) enjoyed its best volume since its 12/10 plunge.  The stock remains down sharply from the .14 area it had been trading in the first part of November.  mCig (MCIG) posted strong volume again and extended its range, now up more than 100% since the lows in November.  Puget Technologies (PUGE) was up, but most likely because it declared itself to be a 3D Printing play now too. 

AVT Inc. (AVTC) posted and closed at a 52-week low as volume soared.  The company hasn’t posted financials for Q2 or Q3 yet.  Medical Cannabis Payment Solutions (REFG) closed at the lowest level since the reverse-merger.  GrowLife (PHOT) gave up a little more ground after a  three-day rally stalled despite publicizing the names of two recent additions to its Board of Directors.  The stock is up more than 262% in 2013, by far the best performer.  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.   Medbox (MDBX) closed at the second-lowest level of the year.  Founder Vincent Mehdizdeh will be a guest on Monday on iCannabisRadio at 5PM EST.

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