Blue Horseshoe Stocks: CANV, ACHN, FREE & More

CannaVest Corp. CANV 

CANV is a stock that recently fell off of a cliff, and found itself trading at 52-week lows.  We like to monitor such plays during their recovery, which has already begun in this case. Trading near its annual lows, CANV appears undervalued, especially in light of the figures contained in the earnings report put out by the company yesterday.

Highlights included a Q2 net income of slightly over $8M, as compared to a net loss of $348K for the same quarter in 2013, and over $9M in cash on-hand. We suggest you read the release in its entirety >>> FULL PR

Check out these websites for some background on Cannavest ( and its subsidiaries, which include US Hemp Oil, LLC (, and CannaVest Laboratories, LLC ( We’re always interested tracking a revenue-generating company in the cannabis sector, and CANV fits the bill.

The stock was trading as high as $20.00 just a few months ago; regaining even a portion of the ground it has lost from current prices in the mid-$3 range would mean the chance at a significant profit for nimble traders.

Achillion Pharmaceuticals, Inc. ACHN

ACHN is a stock we began to track earlier this summer (June 9th) as it was in the midst of a massive surge. At the time we caught it at a low of 3.72, and it ran to nearly $8 over just a two-session span. In the following months, it had been trading in a rough channel between the mid-$6’s and mid-$7’s, and just cracked over $8 yesterday for the first time in more than a year.

This morning’s PR regarding the company’s hepatitis C drug, which was been found to cure all patients in mid-stage trials is also contributing to a huge gap-up that has the stock pushing the $10 mark in the premarket. At that level, we’re already looking at a 168% move up from the the lows we observed in June, and we’re certainly going to have the stock on more intensive watch moving forward.

FreeSeas, Inc. FREE

After appearing in yesterday morning’s extended watchlist, FREE went on to break above the 50DMA at .66, and run 28% intraday from .631-.809.  We want to see higher highs and higher lows acheived as this is another play coming off of its 52-week lows. We’ll need to see it maintain support above the previous 50DMA of .66 in order to keep our attention.

The spike we’re seeing here comes in conjunction with yesterday’s announcement that FREE had regained compliance with Nasdaq’s minimum stockholders equity rule. >>> FULL PR

PBR Options Ideas:

Continuing our coverage of the PBR options chain, we wanted to throw out a few quick ideas as the week comes to a close. We may be interested in the August 22nd $15.50 and $16.00 Calls for a swing trade into next week.

Extended Watchlist: