The pioneering U.S. biotech company developing pharmaceutical cannabis (marijuana) products, Cannabis Science Inc. (OTC: CBIS), has been holding steady since their run from an actual penny to $0.245, a 2,350% gain, in the beginning of the year. On the list of hot penny stocks for a breakout at any given moment, CBIS stock had a 45.83% one-day gain on May 8th. The last trading session provided no such pop as shares of CBIS stock traded just under 5.2 million shares closing down -3.44% at $0.0785 although Gustin L. Reichbach, a justice of the State Supreme Court in Brooklyn NY, made it publicly known via his plea in The New York Times that he supports medical marijuana.
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CBIS Stock Chart:
Reichbach’s ‘Judge’s Plea for Pot’ describes how medical marijuana helped him through his Stage 3 Pancreatic Cancer. Furthermore, the State Supreme Court judge explains how doctors told him he had 4-6 months left until his quest for ameliorative and palliative care led him to marijuana.
Having dedicated 40 years to a life of the law which included more than half of it as a New York State judge, Reichbach stated in the article that his “survival has demanded an enormous price including months of chemotherapy, radiation hell and brutal surgery. For about a year, my cancer disappeared, only to return. Nausea and pain are constant companions. One struggles to eat enough to stave off the dramatic weight loss that is part of this disease. Eating, one of the great pleasures of life has now become a daily battle, with each forkful a small victory. Every drug prescribed to treat one problem leads to one or two more drugs to offset its side effects. Pain medication leads to loss of appetite and constipation. Anti-nausea medication raises glucose levels, a serious problem for me with my pancreas so compromised. Sleep, which might bring respite from the miseries of the day, becomes increasingly elusive.”
Just two weeks ago, House Minority Leader Nancy Pelosi made a historic statement in the pursuit of legalizing medicinal marijuana to President Obama. Pelosi’s stated how access to medicinal marijuana for individuals who are ill or enduring difficult and painful therapies is both a medical and a states’ rights issue. The recent actions by the federal government threatens the safe access of medicinal marijuana to alleviate the suffering of patients in California, and undermines a policy that has been in place under which the federal government did not pursue individuals whose actions complied with state laws providing for medicinal marijuana.
Note: Only 16 states, including California and the District of Columbia, have adopted medicinal marijuana laws.
About CBIS Stock:
Cannabis Science Inc. is at the forefront of pharmaceutical grade medical marijuana research and development. Cannabis Science works with world authorities on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce and commercialize phytocannabinoid-based pharmaceutical products. The Company is dedicated to the creation of cannabis-based medicines, both with and without psychoactive properties, to treat disease and the symptoms of disease, as well as for general health maintenance.
An Interview with Cannabis Science CEO, Dr. Robert Melamede, is available for viewing here.
Bottom Line: The penny stock of Cannabis Science, CBIS, has the possibility to jump at any given time. The statements made by Pelosi were on the 4th, the stock jumped on the 8th. Does it mean that the judges comments garnish a jump in CBIS pps in coming days? Add CBIS to your list of penny stocks to watch just in case.