Happy Holidays all! What a week that was! Although a very short trading week, it didn’t prevent explosive growth from occurring in the Canadian pot stock sector. The madness began on Tuesday, with optimism high in the US sector due to what has been coined as the Cali Rally. The optimism surrounding legalization in the state of California appeared to spill over to all sector participants throughout the day, with many of the OTC tickers of Canadian companies seeing exceptional gains.
Due to the gains made on the American side of the market on Tuesday, by the time Canadian markets opened on Wednesday numerous stocks were revving to go. Several gap ups occurred, with optimism continuing for the rest of the week. On Thursday alone, approximately twenty nine companies in the sector hit fifty two week highs, and for most it was also an all time high. Of particular note, is Canopy Growth Corp which broke the $30 mark for the first time.
Speaking to the week ahead, all eyes will be on California based operations. On Monday, the first of the new year, recreational comes in to effect within the state. With a population that is three million people larger than that of Canada’s, it will be an excellent indicator of whats to come for Canadian legalization. Will the Cali Rally continue, or will a sell the news event occur? It’s anyone’s guess at this point in time. Regardless, expect some coverage from us in the coming week.
Friday Recap: Week Ending December 29th, 2017
Data Deposit Box Inc (CSE: DDB)
Due to the short week, we didn’t perform a full analysis for this week. As such, our first article was on Data Deposit Box, where we discussed the potential for it to be a pump and dump stock. There was plenty of hype built up over the long weekend for this one, and it was evident with the action seen Wednesday morning. We identified the roots of the run, and the insane volume seen last week. After our article, the stock had an excellent week, and offered a handful of opportunities for those involved in intraday trading. Of note however, is that still no material change has been announced. Be sure to take a look at our analysis on this runner.
St-Georges Eco-Mining Corp (CSE: SX)
St-Georges is a company that has been extensively mentioned over social media the last while. This week, we finally had the opportunity to take a glance at it. What we found, was a slightly cryptic share structure. Overall, the structure is not all that bad for the company. The only issue appears to be attempting to calculate the current outstanding shares, and what warrants exist. We got the job done however, and have simplified it for current and future investors of the company. If you’re committed to the stock, use this as a resource.
Nutritional High International Inc (CSE: EAT)
For the second time, we covered Nutritional High International on Thursday. Due to some news issued on Wednesday, the company closed on a high note after making gains to the tune of 136%. After the results seen Wednesday, the company had an incredible gap up on Thursday as well before closing with a 66% gain on the day. For EAT, the Cali Rally is alive and well. With respect to the article, our focus was on the new developments of the company, such as its two recent developments in the state of California. Be sure to check it out if your behind on the latest Nutritional High news.
That’s all we’ve got for you this week. It may have been short, but it was anything but quiet. With any luck, this holiday euphoria will carry on into the new year. If it doesn’t, we fully expect the money to flow into the blockchain sector. If you’re focused on a longer term investment horizon, now is an excellent time to scoop stocks in this emerging sector while all eyes are on pot stocks. We’re on the cusp of another emerging industry, and we expect trends similar to that of the pot sector to become apparent in the near future.
We’ll be back at it on Monday with a fresh article for you. Enjoy the long weekend, and have a happy and safe new year! And as always, Dive Deep!