Cannabis stocks were weak yet again as volume accelerated, with 95% of the companies falling in price. Signs of capitulation were evident, with just a single double-digit percentage gainer and 25 double-digit percentage losers. Stocks with volume above the 30-day average soared from 11% to 37%, with 6 stocks trading over $5mm in value. Only 1 of the 10 highest dollar-volume stocks rose in price.
Unless one was willing or able to go to Canada for Tweed, which rose 40% on its second day of trading, winners were scarce. Green Cures (TTDZ) closed at a high for the fourth consecutive day as volume rose. FusionPharm (FSPM) had a late day surge to close in the green, with volume picking up.
Vapor Group (SPLI) led the way down, with volume rising sharply as the stock tested the 50dma. Minerco Resources (MINE) was very weak as well, with volume picking up. Mentor Capital (MNTR) has lost 73% of its value since peaking in March, with volume accelerating. Cannabis Science (CBIS) fell to the lowest level since January, with volume picking up slightly.
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