The Daily Dab: A Quick Hit On Cannabis Stocks 01/31/14

The cannabis sector was mixed,  with 9 double-digit percentage gainers and just 1 double-digit percentage loser.  Fewer than  20% of the stocks had volume above the 30-day average, though these were almost all higher on the day in price, and  just 7 stocks traded over $5mm in value.

Note:  The list has expanded to include the complete universe

PharmaJanes (AEGY) went live on its website, leading the price and the volume much higher. Plandia Biotechnology (PLPL) continued its run, with the volume and price soaring to multi-year highs.  FusionPharm (FSPM) continued its ascent and rallied sharply, though it dropped almost 20% from its intraday peak.  Hemp, Inc. (HEMP) reached an all-time high closing price as volume expanded.  GrowLife (PHOT) closed near the high prices of the week as volume increased following the 8-K filing detailing its deal with Creative Edge Nutrition (FITX).

Easton Pharma (EAPH) continued to reverse but still ended the week up significantly.  FITX was hammered on news that it owns only 10% of CEN Biotech.  Terra Tech (TRTC) and Medical Marijuana, Inc. (MJNA) moderately corrected.  Medbox (MDBX) was weaker on low volume, with shareholders perhaps reacting to the disappointing license news out of Massachusetts, where only 20 out of 35 dispensary licenses were awarded.  The stock lost 10% of its value this week.

Press Releases:

• AEGY
• FITX
• PHOT

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