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Alan Brochstein, CFA
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Alan Brochstein, CFA has worked in the securities industry since 1986, primarily with the responsibility for managing investments in institutional environments until he founded AB Analytical Services in 2007 in order to provide independent research and consulting to registered investment... More
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  • The Daily Dab: A Quick Hit On Cannabis Stocks 12/04/13 5 comments
    Dec 4, 2013 7:54 PM | about stocks: AVTC, CANN, CANV, CBIS, EDXC, FSPM, GWPH, GWPRF, HEMP, MCIG, MDBX, MJNA, AGTK, PMCB, PHOT, PLPL, PUGE, REFG, TRTC
    The Daily Dab: A Quick Hit On Cannabis Stocks 12/04/13

    Cannabis stocks were mainly under pressure today, with some profit-taking hitting a couple of names that had jumped higher yesterday and the correction continuing in GW Pharma (NASDAQ:GWPH) since almost touching $40 last week:

    (click to enlarge)

    FusionPharm (OTC:FSPM), Medical Cannabis Payment Solutions (OTCPK:REFG), MediSwipe (MWIP) and Endexx (OTCPK:EDXC) all moved higher by 5% or more, but the volume was well below average on each of them (and pretty tiny too). On the downside, mCig (OTCQB:MCIG), Advanced Cannabis Solutions (OTC:CANN), Cannabis Sciences (OTCQB:CBIS) and Medbox (OTCQB:MDBX) all declined more than 5%. Volume was heavy on CBIS, MDBX, and MCIG.

    GWPH traded almost $3.5mm in volume, 6X that of Medical Marijuana, Inc. (OTCPK:MJNA) as the stock continued its correction after spiking to almost $40 a week ago following the initiation by Piper Jaffray with a $73 target. The company presented this morning at their investor conference.

    Two big winners yesterday, MCIG and Terra Tech (OTCQB:TRTC), gave up some of their gains, both on heavier-than-normal volume. TRTC CEO Derek Peterson will be sharing details about his company on a live webinar (free registration) on December 18th. TRTC soared yesterday after the company announced an organic produce collaboration.

    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. To learn more about the sector, download your free guide.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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Comments (5)
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  • bzl14
    , contributor
    Comments (137) | Send Message
     
    Alan,
    are you going to publish your year end beat up stock list this year? Last year's was GREAT! Thanks in advance. bzl14
    5 Dec 2013, 11:32 AM Reply Like
  • Alan Brochstein, CFA
    , contributor
    Comments (7756) | Send Message
     
    Author’s reply » I am not. I am sorry, but it won't get enough views to justify my investment of time.
    5 Dec 2013, 11:47 AM Reply Like
  • bzl14
    , contributor
    Comments (137) | Send Message
     
    Sorry to hear it. Last year's list did amazingly well. All the best, bzl14
    6 Dec 2013, 03:04 PM Reply Like
  • Alan Brochstein, CFA
    , contributor
    Comments (7756) | Send Message
     
    Author’s reply » Yeah, it's unfortunate, but there just is very little interest in those articles (though they seem to be be a great source of ideas for a proven strategy).
    6 Dec 2013, 03:29 PM Reply Like
  • bzl14
    , contributor
    Comments (137) | Send Message
     
    Can't agree more. Thanks again, bzl14
    7 Dec 2013, 09:01 AM Reply Like
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