Get in on the Ground Floor
Cannabis stocks ended a rough week with a modest bounce. 44% of the stocks rose in price, with 3 double-digit percentage gainers and no double-digit percentage losers. Stocks with volume above the 30-day average fell from 28% to 24%, with one stock trading over $5mm in value. Five of the ten highest dollar-volume stocks rose in price as four stocks traded above $1mm. Benzinga's 420 Marijuana Index rose from 325 to 327. The index is up 106% year-to-date but down substantially from the 1010 peak in March.
A Dark Cloud Lingers Over The Cannabis Sector
Stocks moving more than 5% on more than $500K in volume included Growlife (PHOT) to the upside and MyECheck (MYEC), American Green (ERBB) and Tauriga Sciences (TAUG) to the downside.
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