The Daily Dab: A Quick Hit On Cannabis Stocks 02/04/14

Marijuana Investing Moves to Main Street

The cannabis sector caught a bid,  with 17 double-digit percentage gainers but also 4 double-digit percentage losers.  Over half of the stocks had volume above the 30-day average, with most of the big winners posting above-average volume.  11 stocks traded over $5mm in value. The Senate passed the U.S. Farm Bill during trading hours.

IMD Companies (ICBU) more than doubled, and Anything Tech Media (EXMT), which owns a large number of shares, soared as well.  The company has done several acquisitions recently. Easton Pharma (EAPH) broke out of its second consolidation in 2014.  Hemp Inc. (HEMP) soared again as volume catapulted to  $78mm, with the move perhaps tied to the U.S. farm bill.  GreenGro Technologies (GRNH) jumped on the highest volume since early January.  Terra Tech (TRTC) posted a new high for 2014, supported by a product deal as well as the farm bill.

PharmaJanes (AEGY) gave up some ground as volume contracted.   Plandai Biotech (PLPL) was clobbered again after a nasty reversal yesterday, with volume declining but well above the average.  Medbox (MDBX) sold off as volume expanded.  The company’s shareholders are now locked up on half their holdings for up to a year.  Medical Marijuana, Inc. (MJNA) was under pressure early in the day and closed lower despite recovering some of the losses, with volume expanding as well.

Press Releases:

• FSPM/PHOT
• PLPL
• TRTC

 Street.com coverage

• Are Marijuana Stocks Shady?
• Hemp Bill

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