The Daily Dab: A Quick Hit On Cannabis Stocks 02/25/14

The cannabis sector was under pressure again, with volume picking up a bit.  There were 2 double-digit percentage gainers and 6 double-digit percentage losers, with more than 2/3 of the group in red.  Stocks with volume above the 30-day average increased from 16% to 22%, with 7 stocks trading over $5mm in value. 

Mentor Capital (MNTR) was the big winner despite a late-in-the-day pullback, with concerns emerging over a potential short squeeze sending the stock to a new  high.  Volume ended close to the record set in January.  Advanced Cannabis Solutions (CANN) also saw volume expand as the stock finished at its second best closing level ever.  Vapor Group (SPLI) rebounded from its recent correction after bouncing off the 10dma, with volume expanding.  Recent NASDAQ IPO Cara Therapeutics (CARA) posted a new intraday high following several favorable broker reports.  

Latteno Foods (LATF) continued to correct sharply, breaking the .01 level and the 10dma as volume picked up.  Nuvilex (NVLX) reversed following three strong days after gapping up and stalling near .40, with volume remaining elevated.  Creative Edge Nutrition (FITX) endured a second straight decline but closed above the VWAP as volume picked up.  Similarly, Hemp, Inc. (HEMP), which was the fifth most heavily traded stock at over $8mm, managed to close above the VWAP, though volume fell.  

Press Releases:

• FSPM
• MCIG
• MNTR
• PRPM
• SING

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