Cannabis stocks were weak yet again as volume remained subdued, with 75% of the companies falling in price. There were 2 double-digit percentage gainers and 7 double-digit percentage losers. Volume was anemic, as stocks with volume above the 30-day average was 13%, with only 4 stocks trading over $5mm in value. Only 2 of the 10 highest dollar-volume stocks rose in price.
Triton Distribution Systems (TTDZ), soon to become Green Cures, moved to a new high again, with volume increasing. Nuvilex (NVLX) continued its recent recovery, with volume increasing dramatically, the second highest dollar-volume of the day. U.S Energy Initiatives (USEI) reversed some of the prior day's losses, though volume fell.
CannaVest (CANV) moved into the red for 2014 following an 8-K that pointed to accounting restatements, with volume setting a record. Primco Management (PMCM) found support near the 10dma, with volume falling from the prior day. Vapor Group (SPLI) gapped up on news of an acquisition and then reversed, closing near the lowest level in over two weeks as volume contracted.
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