Cannabis stocks opened lower but closed mixed, with signs of buyer interest emerging as the day progressed. Still, 57% of the companies fell in price. There were 8 double-digit percentage gainers and 5 double-digit percentage losers. Stocks with volume above the 30-day average fell from 37% to 28%, with 5 stocks trading over $5mm in value. 5 of the 10 highest dollar-volume stocks rose in price.
CannaBusiness Group (CBGI) gapped up, ending a slide of 80% in the past few weeks after bouncing off the 50dma on Monday, with the stock slipping in volume. Potnetwork420.com (UTRM) reversed the prior day's losses, with volume picking up. mCig (MCIG) volume was well above-average but below yesterday's, as the stock jumped back to the 10dma. Terra Tech (TRTC) also rallied sharply but on slightly lower volume after testing the 50dma.
Dewmar International BMC (DEWM) plunged through the 50dma on sharply higher volume. Plandai Biotechnology (PLPL) volume picked up as the stock moved to the lowest level since late January. Primco Management (PMCM) dropped on slightly higher but below-average volume. Vapor Group (SPLI) extended its decline from late March, with volume falling as it tested the 50dma for the second consecutive day.
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