The Daily Dab: A Quick Hit On Cannabis Stocks 01/10/14

Cannabis stocks were highly volatile with mixed performance, as volumes dropped but were still substantial, with 12 names trading more than $1mm but only 6 trading at more than 3X the 30-day average volume:

Creative Edge Nutrition (FITX) was the big winner, though it closed about 1/3 below its all-time high set yesterday.  mCig (MCIG) posted its highest volume ever as it broke to recent highs.  The company announced the launch of  its 2nd-generation vape pens, which sell for $10.  Terra Tech (TRTC) opened lower but rallied to close at the highs of the week.  The NJ Senate will be voting on a hemp bill on Monday.  GW Pharma (GWPH) continued its post-offering rally, touching an all-time high.

Leading the list of losers was Greengro Technologies (GRNH), which has lost over 80% of its value in the past two days.  The sharp decline today was triggered by an article on Seeking Alpha suggesting a target price of $0.01.  Hemp, Inc. (HEMP) lost almost 1/3 of its value, while AVT, Inc. (AVTC) dropped 25%.  Medbox (MDBX) was the third most active stock in terms of dollar volume, losing over 20% of its value, similar to Cannabis Science (CBIS).  Vape Holdings (PLPED) remains under pressure following its recent reverse split as owners are increasingly able to sell after being limited to the split.  TDA customers saw shares show up in their account today, for instance.  GrowLife (PHOT) had the second-highest dollar volume as it saw follow-through after yesterday’s reversal.

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