Med-Cannabis Pharma, Inc. MCPI
To start things off this week, we’d like to congratulate any members that followed our coverage of MCPI last week to their benefit. We tracked this play as it ran from .355-.55 (+55%) between Monday-Wednesday.
On Thursday, the stock had consolidated back down to a low of .3776, and we mentioned that we were on the lookout for follow-up from the initial spike to provide us with a dip-and-rip opportunity, and that’s precisely what occurred. As we headed into the end of the week, the stock made another push that would exceed the first, and we actually observed a new high of .64 into the close.
The second spike of the week offered up by MCPI amounted to possible gains of up to 69% while Friday’s new high marked an overall increase of 80% from the low we observed on Monday.
Cheers to anyone who was able to take advantage of our timely coverage on this Washington State marijuana play.
Doral Financial Corp. DRL
We tagged DRL for the first time back on July 23rd, and since that time, have seen this stock trading as low as 5.20. This play caught our interest mainly because of the lawsuit they’ve claimed against the Puerto Rican Government.
As a result of a tax discrepancy, it has been alleged that the treasury owes DRL as much as $229M. This morning, the stock is flying high in the premarket on word that hearings for the suit have been suspended until next Monday, so that a settlement between the two parties may be reached.
This could further speed up the process, even after the proceedings were recently ordered expedited by the Puerto Rican Supreme Court. While it is not likely to be the full sum, a settlement could mean a significant portion of that figure going onto DRL books straightaway.
We’ll keep our eyes glued to this one, as we’ve already seen the PPS rise from 5.20 to this morning’s premarket high of 7.20, a respectable 39% increase over the course of roughly seven sessions. The announcement of the completion of the settlement agreement, if and when it arrives, could catalyze even further gains.
- DORAL FINANCIAL CORP Files SEC form 8-K, Other Events (Mon 8:00AM EDT)
We also want to throw LKA Gold, Inc. LKAI into the mix today, a new gold play with a long history of producing mines.
Also, we’ll still be monitoring the PBR Options Calls. We played them like a fiddle last week, and will continue to utilize the action to our benefit. If the stock can get back above $16, we’ll be on the lookout for a substantial move out of the $16 Weekly Calls.
ELRA, IDST, MNKD, PIP, HGSH