United Cannabis Corp. CNAB
CNAB was one of a pair of cannabis plays that we mentioned we’d be tracking toward the end of last week that ended up kicking this week’s trading off with great sessions. When we brought CNAB up in our premarket report on Thursday,
We followed up on Friday after the stock had made a 43% run from .28-.40, and asserted that we’d be on the lookout for CNAB as well as other plays in the pot sector to see increased activity in the weeks ahead. November is fast approaching, with several key cannabis initiatives coming up for a vote, including a recreational bill in California.
CNAB got off to a great start to the week today, by running from a low of .39 to a new high of .63. That worked out to an intraday move of 62%, and a total gain of 125% over our observed low from last week.
Our overall interest in the space has been ongoing from the fall of 2014, just prior to the first “Green Rush”, a historic period which saw countless stocks in the sector make exponential gains. With activity for many of these stocks picking up once again, we’ll be certain to watch plays like GRNH, ERBB, PHOT, TRTC, PZOO, and BLOZF more closely.
OWC Pharmaceutical Research Corp. OWCP
The other cannabis related stock that we’ve been hot on the trail of since Thursday is OWCP, and the stock has been pushing the envelope ever since.
Yesterday we were just mentioning the excellent gains it had already made from .0045 to .0111, and that we were anxious to see it continue its momentum, and it followed up with another great performance. From its daily low of .0109 OWCP went on to hit a new high of .0193, representing a daily rip of 77%, and a three-session overall increase of 329% over Thursday’s .0045 low.
Congratulations to any of our readers who caught a piece of the excellent action on OWCP. With the progress it’s already made, we’ll definitely be reserving a continued slot on our radar screens for this stock in sessions ahead.
Nova Lifestyle, Inc. NVFY
We also want to take a minute to point out a good catch we had in NVFY yesterday, which traded monster volume to the tune of roughly 20X the monthly average, and recorded a solid intraday push.
The stock traded in a range from 3.81-5.15, for a gain of 35% and held a good deal of that advance into the close at 5.08. We’ll continue to track this play and look for it to record another session of higher highs and higher lows, as it has done for the past six days straight.
MCOA, SGBY, CLDX, NADL, CNAT, OLLI, VKTX, LE