Cannabusiness Group, Inc. CBGI
After adding CBGI to our radar on Monday, (At a low of .0321), and putting the stock on high alert yesterday, we’ve managed to do very well with this new player in the medical marijuana game. If you recall, yesterday, we sounded the alarm on CBGI in our pre-market report, putting it on “high alert” after receiving news that the company had acquired a plot of land in California to commence its plans for a licensed cannabis grow operation. In addition, we pointed out the Golden Cross that was forming on the chart as another reason why CBGI was in a prime position to blow its top.
That’s exactly what took place, as the stock opened at .045, dipped briefly to .041, and the it was off to the races. We saw CBGI run 217% to .13, which also marked an overall gain of 305% from Monday’s low. Following that initial rip, the stock would pull back and bounce several times for added intraday opportunities, and landed us at the top of the Penny Stock Rumble:
Congratulations to anyone who was able to take advantage of the chance for quick-strike profits!
CBGI ended the day at .076 up over 120% from its previous close, and we’d like to see support hold in the .06-.07 range in order for this play to retain our interest. We are still on the cusp of seeing that Golden Cross, so we’ll be keeping an eye on CBGI through to next week, when it looks like that might occur.
Extended Watchlist Winners:
Pixelworks, Inc. PXLW
We’ve got to take a minute to applaud ourselves for another of yesterday’s selections. PXLW appeared in our Extended Watchlist and went on to have a beast of a day. The stock shot up from 6.31 to 9.05, a solid 43% increase, and did so on more than 30x its 3-month average volume.
Fanny & Freddie (FNMA & FMCC)
Also making several appearances in our recent reports, we like the gains we’ve seen from this mortgage-lending pair. Both stocks have recently come from the $3.00-range and are now trading well over $5.00.
Our regulars know that we periodically like to conduct Form-4 (Insider Trading) Scans, and have gleaned some big winners by doing so in the past (e.g. CETV made a 147% move for us). As a result of the one we ran this morning, we have a couple of stocks we’d like to throw into the mix:
Biodel, Inc. BIOD
BIOD popped up after several company officers filed their form-4’s which denote an exercise price of 3.37 (Currently trading in the mid-3.40’s), so we’ll be placing this one on our radar for sure. For our readers who may not be as well-versed, let us explain the significance. While Form-4’s reflecting the acquisition of shares by insiders shouldn’t be taken as a definite sign of something big brewing behind the scenes, it does suggest a certain in-house confidence in the stability of a stock that we like to see. It never hurts to put a stock on watch just in case there is something bigger going on.
Career Education Corp. CECO
The other one we spotted on this scan was CECO. A good number of Form-4’s have been submitted over the course of this week, so we’ll be throwing this one up on our radar sceens as well.
MLCG and MDCN are a couple of longer-term marijuana stocks that we think folks should have on their watchlists.
BMSN, FCEL, SKUL, NWBO, HART, CCRN, PLUG BSPM,