Denver, CO
Cannabis stocks were weak yet again, limping into the end of a great quarter for the sector as 63% of the companies fell in price. There were 6 double-digit percentage gainers and 10 double-digit percentage losers. Stocks with volume above the 30-day average fell to 29% from 37%, with 6 stocks trading over $5mm in value. 6 of the 10 highest dollar-volume stocks fell in price.
The excitement over the Tweed debut and the kick-off of the MMPR program in Canada sparked interest in Abattis Bioceuticals (ATTBF) and Enertopia (ENRT), both of which jumped on lower volume. Enertopia was profiled recently, when CEO Robert MacAllister discussed the company. CEO Mike Withrow participated in a webinar earlier this month. Minerco Resources (MINE) recovered the prior day's losses as volume picked up. Tranzbyte (ERBB) also recovered some of its recent losses, though volume contracted.
Property player Zoned Properties (ZDPY) plunged, hurt perhaps by the SEC halt yesterday of Advanced Cannabis Solutions (CANN), with volume accelerating. Vape Holdings (VAPE) fell for the 7th out of the last 8 days, with volume picking up. CannaVest (CANV), which filed its 10-K after the close, sold off again on the highest daily volume ever. The 10-K highlighted $15mm of additional fund-raising required and suggested the company won't be cash flow positive in 2014. Tauriga Sciences (TAUG) recovered about half of its gains after dropping to $0.05, with volume increasing.
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