The Daily Dab: A Quick Hit On Cannabis Stocks 02/21/14

The cannabis sector was under pressure yet again, but volume dropped off.  There were 4 double-digit percentage gainers and 8 double-digit percentage losers, but most stocks fell.  Only 18% of the stocks had volume above the 30-day average, with just 6 stocks trading over $5mm in value. 

Nuvilex (NVLX) continued to rally following the funding agreement announced Wednesday after the close, posting a new multi-year high on high volume as it blasted out of a trading range that had held since last May.  CannaVest was one of the best stocks, rallying 19%, but it also dropped over 30% from its intraday peak, with record volume .  Biotech Cara Therapeutics (CARA), a recent NASDAQ IPO, was the fifth most actively traded name in terms of dollar volume, with the stock having its best day in terms of volume since the first day of trading last month.

Dewmar International BMC (DEWM) fell again as volume contracted, closing above the 10dma. Easton Pharma (EAPH) busted the 10dma as volume picked up, with the stock closing at 50% below the peak earlier this month.  Vapor Group (SPLI) continued to give back some of its recent gains, with volume picking up.  Latteno Foods  (LATF) reversed its previous rally after opening at a new high.  Hemp Inc. (HEMP) fell as volume expanded, posting its lowest close of February.

Press Releases:

• ATTBF
• RFMK

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