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Earlier this month, GW Pharmaceuticals (GWPH) reported positive results from the first Phase 3 Clinical study for its Epidiolex product and this has served as a catalyst for several publicly traded cannabis companies.
This rally can be described as nothing short of a volatile explosion upward as some of the stocks under our coverage are up more than 500% during the last two weeks.
The cannabis stock market has not seen this type of performance since the first quarter of 2014 and we continue to monitor over 100 cannabis stocks for trading opportunities.
Stocks Rally Over 100%
With earnings season right around the corner, we want to highlight stocks that have seen significant price movements over the last two weeks.
The stock that has performed the best during the last two weeks is Cannabis Sativa (CBDS) and shares are up more than 510%. CBDS sells the Wild Earth Naturals line of CBD Water and is focused on the research, development and licensing of specialized natural cannabis products.
Cannabis Science, Inc. (CBIS) was another beneficiary of GWPH’s announcement and is up more than 125%. After GWPH reported favorable results, CBIS applauded the company’s success and said that the announcement will pave the way for them to move forward with their own testing in Europe and the United States.
On the same day that GWPH reported positive Stage 3 Clinical results for Epidiolex, Greengro Technologies, Inc. (GRNH) announced record breaking revenue growth through the first quarter of 2016. GRNH said that revenue grew more than 242% when compared to the same period last year and the market has responded favorably to this news. GRNH rallied approximately 43% yesterday and shares are up more than 107% during the last two weeks.
Since there does not seem to be a logical reason for the rally by CBDS, CBIS and GRNH, we remain cautious with shares at current levels.
Do Your Due Diligence
The cannabis industry is one of the most rapidly developing and controversial industries in the United States. Although there is a lot of opportunity in this sector, before creating a position investors and traders need to do their due diligence.
Today is the first day of the Cannabis Investing Virtual Event which is being produced by the MoneyShow and in association with PR Newswire. The event features an impressive lineup of experts, analysts, and company executives.
Click here to register for this free event and take advantage of an opportunity to learn about some of the top cannabis investments.
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