Well ladies and gents, that’s another wild week in the books. We’re starting to sound like a broken record here, but it was another absolutely nuts week for the pot stock sector. This time however, the catalyst was continued optimism for the sector, which sent Canopy Growth Corp soaring above the $40 mark for the first time in its history. It’s hard to imagine that this stock was sitting at $6 only a few months ago. Who’d of thought it’d see returns like this in such a short time?
That being said, each day we seem to see a few more signs of weakness in the sector. Whether that is inexperienced management forgetting to file financials (looking at you Namaste Tech and Alliance Growers), or a few stocks hitting circuit breakers for a large move in a short amount of time. In the case of Canopy Growth, after hitting a high of $44.00 on Tuesday, it has since traced back to close at $37.56 as of Thursday evening. It still hasn’t crossed the critical 9 EMA, so it may be priming itself for another leg up. On the other hand, it may finally be succumbing to the seasonality of the sector.
In fact, there are several stocks that have exhibited signs of a small pullback. The last two sessions have had the majors moving relatively in sync with each other, as they have all pulled back to around their 9 period exponential moving average. The next handful of trading sessions will tell us if the bulls have finally become tuckered out, or if they’ve got more strength left in them. Until then, the smaller players of the market eagerly await to see what the leaders of the pack do.
Friday Recap: Week Ending January 12th, 2018
MPX Bioceutical Corp (CSE: MPX)
The focus of this week was MPX Bioceuticals, after having conducted a quick briefing on them midway through last week. Although we expected some decent viewership numbers, nothing could have prepared us for what we saw. We hit a new daily viewership record on Sunday due to the demand this article brought. Within, we covered all aspects of the company – from the numerous states it’s involved in, to its current production figures, to that of a potential valuation. We covered it all in this one, and its one you definitely don’t want to miss!
ThreeD Capital Inc (CSE: IDK)
For the first briefing of the week we covered ThreeD Capital, and the potential reasons behind the hype currently being exhibited for the company. This includes the current connections the company has to St-Georges Eco-Mining, a popular stock as of late. Following this we also covered the connections and investments the company has made in the wildly popular blockchain realm. Lastly, we addressed the current position the company is in with regards to cash. If you’re currently in this trade, take a moment to give it a read.
Umbral Energy Corp (CSE: UMB) / Heritage Cannabis Holdings Corp (CSE: CANN)
After a two month long hiatus, Umbral Energy is finally back in action for investors. At least, the new form of the company is. Earlier in the week we heard rumors that this one would finally resume trading after performing its change of business for the last two months. In honour of this, we identified the latest news on the company, and what has changed since its halt. This played out in our favour, as the stock resumed trading the day after our article was released under the name Heritage Cannabis Holdings Corp. If your memory is foggy on this one, take a moment to get up to speed.
American Potash Corp (CSE: AMP)
The mining sector, for all intents and purposes, is not our forte. We by no means claim to be experts in the resource industry, although we’re working on it. However, that doesn’t mean we don’t know a tight share structure when we see one. We covered American Potash’s very tight knit share structure at the special request of a few readers of The Deep Dive. However, after writing the large part of the article, we found a nice surprise waiting for us. Give it a read to find out just what that was!
Namaste Technologies Inc (CSE: N)
Back in the latter part of November, we conducted a well received full analysis on Namaste Technologies. After a few new developments this week as well as over the last month, we felt it was an appropriate time to get readers up to speed on this one. Most significantly, the company has pivoted its sub-sector of focus within the cannabis space, in addition to loading up company coffers. However, it has some large expectations to live up to which we address near the end of our article.
That’s all for this week folks. Thank you for your continued viewership, it means the world to us. We’ve got a few changes headed your way in the oncoming weeks, so be sure to stay posted on our latest updates. In the mean time, don’t forget that we’ve got another full analysis coming at you Sunday morning. By popular vote, we’ll be conducting this weeks Deep Dive into that of Harvest One Cannabis Inc. This one tends to be a fan favorite, so make sure you swing by to give it a once-over. Until then, enjoy your weekend!
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.