Cannabis stocks were weak again, with 85% of the companies falling in price. An SEC halt of a leading company and a negative Seeking Alpha article about another led to widespread selling. There were 2 double-digit percentage gainers and 19 double-digit percentage losers. Stocks with volume above the 30-day average jumped to 37% from 27%, with 6 stocks trading over $5mm in value. 7 of the 10 highest dollar-volume stocks fell in price.
US Energy Initiatives (USEI) moved to 2014 highs on heavy volume. Terra Tech (TRTC) responded favorably to a positive Seeking Alpha article as volume picked up from low levels over the prior two days. Nuvilex (NVLX) was marginally higher following a late-in-the-day rally, with volume slipping and well below the recent average.
Enertopia (ENRT) saw volume pick up as its recent decline accelerated, with the stock down more than 50% over the past week. Primco Management (PMCM) gave up all the prior day's gains as volume declined. Vapor Group (SPLI) was hit hard by a Seeking Alpha article but bounced almost 50% off the intraday low following a pre-release of financials. CannaVest (CANV) broke its February lows on the highest volume of the year.
Press Releases:
Interested in Cannabis Stocks?
Learn about the risks and opportunities
Download Your Free Copy
The Daily Dab is brought to you by 420 Investor, a large and rapidly growing community of Green Rush investors seeking to capitalize on cannabis. For just a little over a dollar a day on an annual subscription ($420), you can get all of the benefits of being a part of 420 Investor, including analysis, alerts, trade recommendations, chat and video updates. Find out why 420 Investors are addicted to the service. To learn more about the sector, download your free guide.
Check us out on Facebook too!
Comments