CBDE is a fairly new issuer, and built some serious momentum off of its bottom on Friday after the announcement of a lucrative solar farm construction contract. The company reports expected pre-tax revenues from the project amounting to more than $6 Million to be recognized in 2015, so we’re going to place this new stock on our medium-to-long term watchlist.
In the meantime, CBDE appears to be on the cusp of breaking the $4-mark this morning, which is the level at which the stock began trading just a couple of months ago. We’ll be watching for a breach of this psychological barrier, which would effectively put CBDE in Blue Sky mode, with no telling where the ceiling might come.
It should make for an interesting story to follow in the days and weeks ahead.
Med-Cannabis Pharma, Inc. MCPI
Turning focus to the marijuana space, we’ve got a new play to add to our running watchlist. It’s most interesting to us because it has a part to play in the implementation of legalization in Washington, which has been much more subdued than Colorado’s roll-out.
The madness that ensued thereafter led to months of record-breaking gains, but at the same time led to an SEC crackdown on what had become a free-for-all of false claims and hysteria. For that reason, companies involved in the more slowly unfolding Washington cannabis industry have been fewer and further between.
That’s exactly why we want to keep an eye on MCPI moving forward, despite the fact that it has already seen exponential gains; it’s confirmed that the company actually has boots on the ground in Washington, as indicated in this morning’s press release that we think you’ll want to check out:
PORT TOWNSEND, WA, Aug 04, 2014 (Marketwired via COMTEX) — Med-Cannabis Pharma, Inc. (OTCQB: MCPI), a Nevada Company specializing in Medical cannabis sales will be opening several Medical cannabis stores through its subsidiary Cannabis Hemporium in various towns on the Olympic Peninsula in the State of Washington during the month of August. The towns include Port Townsend, Port Hadlock and the Hood Canal location where work has been continuing for opening. >>> FULL PR
Side Note:
On Friday, we mentioned that we had an interest in PBR $16 Calls for this week, so we just wanted to remind readers that we would be focusing on those contracts as the trading week commences.
Extended Watchlist:
TSEM, NNVC, MEET, NQ, CAMT
