GW Pharmaceuticals, Inc. GWPH
Yesterday morning, we suggested our readers pay attention to the activity in GWPH, which had just published a blockbuster PR regarding top-line success in a late-stage trial of a cannabis-derived treatment (>>View PR).
The breakthrough nature of the study caught many people’s eyes, and throughout the course of the day’s news cycle, the story got significant national attention from multiple media outlets.
As we’d mentioned in our premarket report yesterday, we were going to do some cherry-picking, waiting for the gap-up to lead to an early dip (which it did), and then track in-the-money calls. To give an idea of the sort of scenario that was possible, the GWPH $75 Calls ran from 7.70-16.70 (+116%)
We’ll continue monitoring in-the-money calls in the $75-85 range, and if GWPH appears to want to break $90, consider rolling our strike price up to that level.
GreenGro Technologies, Inc. GRNH
The national attention cast upon GW Pharma also brought some nice activity into other cannabis-related plays, and GRNH was one of them. We’ve got an established history of tracking this stock that stretches back for years. A search of our archive shows that this morning marks the 35th occasion on which we’ve mentioned the stock.
The most recent of those mentions came this past Wednesday, when we tagged it in our morning watchlist, after which time we observed a low of .02.
Yesterday, the stock rode the wave of attention for the sector to an impressive 62% rip as it ran from .0215-.0349. It also marked a total swing of 74% over the low we witnessed last week.
Added Note: We prepared a list of some other marijuana stocks to monitor more closely in the light of heightened investor awareness of the sector: CANV, CBDS, CANN, CNBX
Extended Watchlist:
VPRO, CDNL, LEAS, EEGC, VLDI, CPXX(FDA News)