High rolling cannabis stocks continue to surge
Creso Pharma (ASX: CPH) is one such player, and its shares closed at 31 cents last Friday representing a gain of nearly 35% over the previous fortnight.
However, this story is just gaining traction, and CPH’s shares surged another 10% on Monday morning.
CPH is one of the better placed players in this space in terms of benefiting from regulatory changes given that it had already negotiated a Letter of Intent with an exclusive licensed Australian distributor in Health House International for the import and sale of cannabis products.
MGC Pharmaceuticals builds on last week’s 40% gain
The other cannabis stock to rally substantially over the last fortnight was MGC Pharmaceuticals (ASX: MXC). Its shares spiked last week from 3.8 cents to hit a high of 5.1 cents, representing a gain of more than 40%.
While they finished the week at 4.6 cents, the stock has rallied more than 4% on Monday morning.
A key driver last week was the announcement that the group was on track to commence first production from its Slovenian based cannabinoid extraction facility in the second quarter of 2017.
Once operational, the company will have the ability to extract and produce high margin cannabinoids in resin form, facilitating the production of medical grade cannabis products.
It should be noted that share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Longhou Capital Markets Pty Ltd (AFSL No. 292464). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.