CORAL GABLES, FL / ACCESSWIRE / November 20, 2014 / A marketwide trend swept the burgeoning marijuana sector in October and it seemingly occurred around the 15th of the month. With anticipation of the midterm elections and the uncertainty of how that would play out, investors played it close to the cuff and apparently felt more comfortable in a cash position when it came to trading marijuana stocks. Despite the anxieties surrounding a conservative republican majority, more states continue to legalize marijuana and thus stock prices have begun to climb back for some marijuana stocks over the last few weeks.
Cannagrow Holdings (CGRW) has moved up as much as 420% since hitting October lows of $0.05, which seems fitting for this marijuana consulting company. Tuesday saw a moderate increase of 11% during market hours while the stock maintained a green close. Earlier in the month the company announced the cancellation of several million shares which seems to have spurred new interest from the investment community as noted by the increase in trading volume over the last few weeks.
(For more information on CGRW and related companies please visit http://marijuanastocks.com/market-scan/?symbol=cgrw)
Cannabis Science, Inc. (CBIS) continued to move up in price. After hitting lows in October of $0.045 the stock has run up as much as 121%. Currently the stock price sits around $0.07 and as of last Friday, CBIS has found a new uptrend and closed out the Tuesday session with an intra-day gain of 5% from the opening bell. Just last week the Company announced that it is moving into 2nd stage cannabinoid production in Spain. "Our year-round growing capabilities give us the ability to meet the growing demand based on the number of delivery methods we are developing for various critical ailments," said Mario S. Lap, Director and President of European Operations. "We will be providing our formulation and developing scalability and portability for our pre-clinical programs that will target GMP production requirements. We're also setting up other patient groups in Spain and other countries to use formulations we developed."
(For more information on CBIS and related companies please visit http://marijuanastocks.com/market-scan/?symbol=cbis)
American Green (ERBB) has fallen victim to a recent period of selling in the stock. After battling back from lows of $0.0115 back in mid-October, the stock saw a massive spike that sent it to highs of $0.0223 just before elections. But since then the stock has seen a decline in price by more than 40% after yesterday's session. Recent news suggests that the company is progressing within the industry however. American Green announced earlier in November that it will be managing the Urban Hills medical cannabis cultivation site in Nevada. To the benefit of American Green, this will new program will bring in $20,000 per month in revenue.
Nevada is becoming a hotbed for marijuana businesses. In a recent Fox5 news story, the station reports that medical marijuana businesses in Nevada are well on their way to opening. That has some predicting legal recreational pot in the Silver State may not be far behind. This could put American Green and other Nevada based Companies at the center of the next marijuana market to boom.
(For more information on ERBB and related companies please visit http://marijuanastocks.com/market-scan/?symbol=erbb
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