The Daily Dab: A Quick Hit On Cannabis Stocks 04/21/14

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Cannabis stocks paused after two days of sharp gains, with 42% of the stocks rising in price. There were 7 double-digit percentage gainers and 9 double-digit percentage losers. Stocks with volume above the 30-day average was about 25%, with only two stocks trading over $5mm in value. Half of the highest dollar-volume stocks rose in price. Benzinga's 420 Marijuana Index was virtually unchanged at 546.

Plandai Biotechnology (PLPL) extended recent gains after bouncing off of support near 0.45 last week, with volume increasing.  Easton Pharma (EAPH) made up some lost ground, but the volume fell as the stock fell short of the falling 10dma.  Endexx (EDXC) rallied following its technology debut at the Cannabis Cup, with vlume relatively flat. (UTRM) reacted negatively to its premier show.  Billed as the "CNN of Marijuana", it came across more like Saturday Night Live.  The stock saw volume accelerate.  CannaVest (CANV) reversed most of the gains from late last week as volume slipped but was the third most active since the stock began trading.  CannabisSativa (CBDS) continued its slide, reaching the lowest level since early January as volume jumped.

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Posted to Benzinga PotProfits on Apr 21, 2014 — 6:04 PM
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