The Daily Dab: A Quick Hit On Cannabis Stocks 01/17/14

Marijuana:  The Mood Shifts, and Decades of Prohibition Go Up in Smoke

Cannabis stocks were mixed as volume declined for most names :

Cannabis Science (CBIS) bounced back sharply, rallying after lunch to close in the middle of the week’s trading range.  FusionPharm (FSPM) was one of the few stocks to see volume expand as it extended its rally.  CannaVest (CANV) enjoyed its most active day of trading since its formation.   The company’s RSHO product was featured on  ABC news in San Diego.

Cannabis Sativa (CBDS) and Advanced Cannabis Solutions (CANN) both saw substantial profit-taking ahead of the long weekend, closing sharply higher on the week.  CANN will present at the Arcview meeting in Las Vegas next week.  CFO Chris Taylor is also scheduled as a guest on iCannabisRadio on Monday.  CEO Robert Frichtel shared his vision in an interview last month. The company has about 15mm shares outstanding before a recent convertible bond offering but only about 1mm in the float.  Plandai Biotechnology (PLPL) pulled back sharply as volume contracted.  The stock had run up in advance of the company’s announcement of a license agreement with Diego Pellicer.  Vape Holdings (PLPED) ended the week at its lowest close of the month.   GrowLife (PHOT) was the only stock to trade above $10mm, as the recent profit-taking accelerated following a press release with the CEO making the case for shareholders to approve a boost the the authorized shares at a meeting scheduled in early February.  

Press Releases:

• PHOT

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