Cannabis stocks ended a horrible month with a low-volume advance, with 57% of the stocks rising in price. There were 9 double-digit percentage gainers and 4 double-digit percentage losers. Stocks with volume above the 30-day average fell from 32% to 17%, with only 1 stock trading over $5mm in value. Seven of the ten highest dollar-volume stocks rose in price. Benzinga's 420 Marijuana Index was temporarily unavailable (sorry!), but it lost approximately 40% of its value in April.
GrowLife (PHOT) regained some life following its post-suspension return to trading last week, with volume falling from recent elevated levels. Vape Holdings (VAPE) rebounded from recent declines, with volume stable. Tranzbyte (ERBB), which had a big reversal the prior day, extended gains as volume fell but remained above-average. GW Pharma (GWPH) posted its highest close in over a month as volume was stable at elevated levels.
Minerco Resources (MINE), which plunged following a conference call yesterday that didn't shed too much light on its MJ-related products, fell again, with volume declining as the stock's low from yesterday failed to hold. Medbox (MDBX) endured heavy selling late in the day, with volume for the entire day picking up. Hemp, Inc. (HEMP) broke recent support as volume jumped.
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