Cannabis Stocks Jump as Cannabis Sativa Extends Rally
Whitefish, MT / August 4, 2014 / The Marijuana Index(tm) moved marginally higher last week, despite a 1.7% drop in GW Pharmaceuticals plc (NASDAQ: GWPH) and an 8.68% drop in Medbox Inc. (OTC: MDBX), as many smaller index components moved higher.
Top gainers last week included Cannabis Sativa Inc. (OTC: CBDS), which extended its rally by 32.1% with no new news, Terra Tech Corp. (OTC: TRTC), which jumped 22.2% after reporting progress on its therapeutic line of CBDs and Edible Garden(tm) brand, and Agritek Holdings Inc. (OTC: AGTK), which rose 13.7% after executing a property purchase agreement in Las Vegas, Nevada.
Cannabis regulatory initiatives also gained ground last week with the introduction of a bipartisan bill within the House of Representatives. The Charlotte’s Web Medical Hemp Act of 2014 would legalize a compound in marijuana that has been successfully used to treat severe forms of childhood epilepsy.
– Agritek Carves Out Attractive Niche – CannabisFN takes a closer look at Agritek Holdings Inc. (OTC: AGTK) and its plans to combine real estate management with health and wellness products under the Mont Blunt brand.
– 3 Ways Legalization has Impacted Real Estate – Cannabis legalization has changed a number of different industries, but the real estate industry has been particularly hit by massive changes as the industry matures.
– Enertopia: Low Valuation with Ample Followers – CannabisFN takes a closer look at Enertopia Corp. (OTC: ENRT) and its prudent approach, relatively low valuation, and ample number of followers.
– House Bill Aims to Legalize Medical Marijuana – A bipartisan House bill, called Charlotte’s Web Medical Hemp Act of 2014, aims to legalize a compound in marijuana used to treat severe epilepsy.
– Greengro Expands Colorado Retail Operations – Greengro Technologies Inc. (OTC: GRNH) signed an agreement to acquire a well-established hydroponics retailer that would add $500,000 in annual revenue.
– Legalization Doesn’t Increase Teen Usage – A new study based on various national studies found that increased legalization doesn’t necessarily lead to increased use of marijuana among teenagers.
What to Watch This Week
The cannabis sector continues to make regulatory progress, while names like Cannabis Sativa extended their rally higher. Traders may want to watch out for profit-taking in some over-extended names, but the overall sector continues to show signs of recovery from its retreat earlier this year.
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