The Daily Dab: A Quick Hit On Cannabis Stocks 01/24/14

Continuing the trend of volatility within the cannabis sector, Friday’s action included some big winners and big losers.  9 stocks traded with above-average volume, and most of them were the best performers as well.  6 stocks exceeded $5mm in trading.

Mentor Capital (MNTR), which fell 50% from its peak last week to the low yesterday, rebounded to lead the way, closing up marginally for the holiday-shortened week.  Plandai Biotechnology (PLPL) had its best close since September as volume exploded.  mCig (MCIG) produced the kind of high marijuana investors crave, posting its best levels since the merger on its best volume in over two weeks. Terra Tech (TRTC) was strong out of the gate and finished at the high of the day as the market better understood the news from yesterday’s Huffington Post article suggesting that the company will apply for a license in Nevada to grow cannabis.  Nuvilex (NVLX) had its best close since May on the highest volume in over two years.   CannaVest (CANV) blasted to a new all-time high on record volume.  At the closing price, the market cap, assuming the company is successful selling all 10mm shares of restricted stock it is offering at $1 and that all convertible notes are converted, is almost $3 billion.  Medical Marijuana, Inc. (MJNA) tested levels not seen since last March as volume remained elevated.

Creative Edge Nutrition (FITX) apparently flopped at Arcview, and the stock sold off .  Endexx (EDXC), its technology partner, was also hit with profit-taking .  FusionPharm (FSPM) also posted a strong week but was hit with profit-taking.  Here is a picture of a model in their factory (from Tuesday):

Press Releases:

• MCIG

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