Marijuana Sector Heating Up Again
Last year at this time, we were in the midst of one of the most exciting times for an individual sector that we’ve ever witnessed. You’ll recall that the 2014 New Year brought the beginning of the first legal recreational marijuana sales in Colorado, and as a result the interest in cannabis and related stocks went absolutely through the roof. The months-long free-for-all was punctuated by dozens of ‘pot plays’ making astronomical gains, and it went down in the books as one of the most exciting mega-trends we’ve ever lived through.
While we don’t expect to see anything of that hype-fueled magnitude this year, we did notice a significant rise in activity in several of the marijuana stocks that we’ve tracked all throughout 2014 ramping up at the end of last week, so we thought this morning would be a good time to call some attention back to the legal/medical cannabis arena.
Friday’s list of gainers read like a symbol-for-symbol recap of our pot stock watchlist. Among those, the most impressive were ones that we are used to seeing make incredible moves:
HEMP, CBIS, MJNA, EAPH, GRNH, MCIG, ERBB, & TRTC
*If you’d like to inspect our history with each stock, you can check the archives by typing bluehorseshoestocks.com/tag/____ and replacing the blank space with whichever symbol you’d like to pull up. It will furnish you with a chronological listing of each article that we posted on a given stock. (Note that this method can be used for any symbol we’ve ever covered, making us 100% transparent- just another reason why we feel our newsletter is the best around)
We will continue to make the monitoring of the cannabis sector a high priority for us as we settle into the New Year. More and more initiatives are being voted on all the time, and as we’ve been saying since 2012, the legalization of marijuana throughout the United States is going to play out like a domino effect. With measures having passed already in a handful of states, and several more slated to address various degrees of the issue on impending ballots, the landscape of the industry should be expected to change and grow dramatically into the foreseeable future. Like always, we’ll be ready to capitalize on that growth as it happens.
Energous Corp. WATT
We also want to do a quick follow-up on WATT, a stock that we initially tagged on Wednesday Dec. 24th at a low of 8.40 and the stock has been on an overall uptrend in the five sessions since that time.
On Friday the stock managed to close in the 11.30’s and in the premarket today, we have seen trades go off as high as 12.65; that marks an increase over our observed low totaling 51%, so big congratulations are in order for anyone that has been tracking this play along with us.
There’s also some news out today about an agreement with an established electronics company that could help WATT speed up its wireless charging solution’s path to market. That’s a story we will definitely need to monitor moving forward:
Extended Watchlist:
CEMP, CNAT, STXS, KMDA, URZ, THLD
