The penny stock of Cannabis-Rx Inc. (CANA) finally IPO’d today within minutes after Billionairestocks alerted that their HUGE cannabis pick which had never traded before was delayed for “unforeseen reasons.” Ironically, the day after Advanced Cannabis Solutions, Inc. (CANN) was suspended by the SEC, not only was the long awaited pick delayed, but CANA stock was released from it’s cage only to spill dirty bong water all over the initial flow of buyers. Looking to become the next best thing in the marijuana related real estate market, the phat thud when shares dropped from $7.20 to $2 opened the doors for speculators.
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CANA Stock Quote
Market Cap: 292.60M
Last: 1.90 ▼ -2.60 (-57.78%)
Volume: 189,636
Dollar Volume: $549,703
Open: 4.50
High: 7.20
Low: 1.80
Trades: 430
Authorized: 1,500,000,000
Issued and Outstanding: 154,000,000
Miramar Investors Inc.: 124,300,000
Float: 29,700,000
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You can access our due diligence report on Cannabis-Rx here since nothing other than choosing a different logo and actually launching the website have occurred since it was published. Actually, On February 19, 2014, Cannabis-Rx sold a $4,000,000 promissory note to accredited investors which is most likely what was going to be pumped (and still is).
It was ironic that when the Cannabis Pick of Billionairestocks and 900PercentStocks was due to be issued next week not only was cancelled today via email alert, but then CANA stock was released to the hounds who chased it all the way up to above $7 before they realized no one else was buying it. Shares of CANA came down almost as hard as they went up before settling at a price just under $2.
In other pot related penny stocks that went higher than they should have, Pazoo, Inc. (PZOO), a health and wellness focused website of limited products, went in to the marijuana industry by acquiring a 40% stake in medical marijuana testing laboratories. Would love to see their Ms Fitness Universe winning Pazoo expert have her part in a publicized “thumbs up” approval on that venture.
PZOO stock was alerted throughout the morning and afternoon by a number of groups but put up only mild gains after opening at 0.04. Besides that, Tranzbyte Corporation (ERBB) regained its losses from yesterday and looks to close out the last Friday session of March as the top traded penny stock on the OTC.
About CANA Stock
Cannabis-Rx Inc. is a new start up real estate focused company looking to lease growing space and related facilities to licensed marijuana growers and dispensary owners for their operations.
Click here to view the SEC filings for CANA.
Click here to view the website for Cannabis Rx.
Bottom Line:
The theme around penny stocks remains the same (for now): If It Ain’t Pot, It Ain’t Hot. When the Rockies, Broncos, Nuggets and Avalanche all have pot smoking sections in their stadiums, then we will know that the real real estate companies that can lease out space to marijuana growers and the security companies that can protect them are the deals to be had, not CANA stock.
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