The Daily Dab: A Quick Hit On Cannabis Stocks 02/07/14

The cannabis sector experienced profit-taking in front of the weekend,  with 10 double-digit percentage decliners and just 5 double-digit percentage winners, with 2/3 of the group declining.   65% of the stocks had volume below the 30-day average.  9 stocks traded over $5mm in value. 

AVTC Files $100mm Libel Suit Against Seeking Alpha Contributor Alan Brochstein

Creative Edge Nutrition (FITX) surged to new highs after GrowLife (PHOT) shareholders approved an increase in the authorized shares, an action necessary to finalize the recently announced partnership between the companies regarding the CEN Biotech facility in Canada.  Tranzbyte (ERBB) advanced on expanded volume.  GW Pharma (GWPH) rallied after mention by Jim Cramer on “Six in Sixty Seconds”, trading $89mm in volume.  PHOT closed near the highs of the day after shareholders approved an increase in the authorized share-count, trading $20mm in  volume.

HEMP fell sharply again and had the highest dollar volume in the sector on the day as turnover increased.    Vape Holdings (VAPE) declined for the third consecutive day as volume declined.  Many of the smaller names that have enjoyed big runs this week reversed sharply, like IMD Companies (ICBU), Rapid Fire Marketing (RFMK)  and Easton Pharma (EAPH).

Press Releases:

• HEMP
• PHOT
• PLPL
• VAPE

 Street.com coverage

• Are Marijuana Stocks Shady?
• Hemp Bill
• Medical Marijuana Offers Versatility and Care

ARE YOU A MARIJUANA MARKET MAVEN?

Prove it at the free 420 Investor Pool at StockPools.com

1st Prize:  $500 Cash  plus 1-year subscription to 420 Investor

The Daily Dab is brought to you by 420 Investor, a large and rapidly growing community of Green Rush investors seeking to capitalize on cannabis.  For just a little over a dollar a day on an annual subscription ($420), you can get all of the benefits of being a part of 420 Investor, including analysis, alerts, trade recommendations, chat and video updates.  Find out why 420 Investors are addicted to the service.  To learn more about the sector, download your free guide.