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To kick off the week, we’re turning the conversation back to both medical and legal marijuana-related stocks, a topic that we have covered extensivelyfor over a year now. Many of our old favorites have begun to show signs of promise once again, so we thought this would be a good time to bring them back into the fold as features in today’s morning report.
Growlife, Inc. PHOT
SK3 Group, Inc. SKTO
MediSwipe, Inc. MWIP
Hemp, Inc. HEMP
Each one of the preceding stocks (along with a great many more) has brought us several opportunities for large, or even astronomical gains, as was the case with MWIP from which we were afforded the chance at more than a 5250% profit (Coverage range: .0026-.1398)
Last week each of these began finding its way back to our watchlist as we’ve noticed increased volume, and as we’ve learned extensively in the past, volume often precedes price. Thus we are going to want to keep a close eye on these, and indeed the marijuana sector as a whole, which has yet to reach even a fraction of its full potential. Polls show that more than half of Americans now support legalization of cannabis and cannabis products, and of course we know that some states have already taken the necessary steps to make it available to their citizens.
Callaway Golf Co. ELY
ELY appeared in Friday’s extended watchlist, then put forth a performance that merits mentioning. The stock touched a daily low of 7.82 very early in the session before enjoying a steady 14% surge up to 8.90, its highest point since 2010.
This comes on the heels of a wave of positive press last week including significantly boosted quarterly earnings:
- Callaway Golf Company Announces Significantly Improved Third Quarter And Year-to-Date Financial Results And Increases Annual Financial Guidance PR Newswire (Thu, Oct 24)
- CALLAWAY GOLF CO Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibits EDGAR Online (Thu, Oct 24)
- Callaway Golf Declares Quarterly Dividends PR Newswire (Wed, Oct 23)
Extended Watchlist:
DNDN, KNDI, OGXI, FNMA, FMCC, AAPL (Earnings expected today)