The Daily Dab: A Quick Hit On Cannabis Stocks 01/08/14

While the sector remained on fire, there were several big drops and some nasty reversals even among the winners.  10 stocks traded more than 5X the average volume, while a dozen traded in excess of $1mm:

Hemp, Inc. (HEMP) was the big winner, rising almost 90% on more than 6X normal volume.  Terra Tech (TRTC) ran up in front of a Bloomberg TV segment after the close that featured an executive.  CEO Derek Peterson shared a fantastic overview of his company last month.  Greengro Technologies (GRNH) traded as high as $1.20 before dropping by 1/3 as more than 100% of the float turned over.  GrowLife (PHOT) traded to an all-time high  and was the third most active name in terms of dollar volume.  Endexx (EDXC) jumped 46% to its best close in over a year as investors await its annual report over the next two days.  Tranzbyte (ERBB) traded 8X the average volume of the past month as it returned to levels not seen since last February.  AVT, Inc. (AVTC) traded as high as $8 before closing at $5 following a press release suggesting sharply higher sales.  Creative Edge Nutrition (FITX) continued its ascent, posting 52-week closing high. Cannabis Science (CBIS) traded to the highest level since April 2012 as volume expanded to the highest turnover in over a year.  

Cannabis Sativa (CBDS) suffered a dramatic reversal following a stunning run over the past several days, losing 1/3 of its value from the high in the morning.  Medbox (MDBX) fared worse, dropping 43% from its early high as dollar volume expanded to a remarkable $93mm.  At the peak today, the market cap including convertible preferred stock was about $2.7 billion.  MediSwipe (MWIPD) fell for the second straight day.  Advanced Cannabis Solutions (CANN) reversed sharply from a new all-time high set early in the day as volume contracted but remained well above recent levels.  CannaVest (CANV) traded its highest volume since the reverse merger.  Accredited investors should be aware that the company is offering shares at just $1.

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