The Daily Dab: A Quick Hit On Cannabis Stocks 01/03/14

Cannabis stocks started strong for the 4th consecutive day, but several reversed as volumes remained quite elevated across the sector:

GreenGro Technologies led the way on its highest volume ever, trading to levels not seen since February.   Advanced Cannabis Solutions (CANN) inked a deal to acquire land for a grow facility in Pueblo, CO, entering into a sale/leaseback with a dispensary.  The stock experienced its highest volume by far since the reverse merger this summer.  CEO Robert Frichtel discussed the company and its strategy in a recent interview.  Vape Holdings (PLPE), which will trade as VAPE later this month and which is executing a 40:1 reverse split next week, bounced back following disclosure that Kyle Tracey has officially become CEO and that the company has acquired HIVE Ceramics for 30mm shares.  Medbox (MDBX) rallied sharply again as volume remained well above normal levels. mCig (MCIG) continued to trade on better volume as it recovered further from its late-day plunge on Tuesday.  GrowLife (PHOT) added the third of three Board appointees from CANX.  The volume almost matched its record volume from the prior day as it reversed after posting a 52-week high early in the morning.    

Cannabis Science (CBIS) plunged after gapping higher, with volume increasing to the highest level in over a year. Medical Marijuana, Inc. (MJNA) responded negatively initially to an article on Seeking Alpha that described its lack of revenue from THC-based products and then more than reversed the prior-day rally as volume remained above normal.   Hemp, Inc. (HEMP) saw volume expand as the stock reversed following a gap-up in the morning. Terra Tech (TRTC) posted its highest levels since April before reversing on high volume. 

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