One of the cheap OTCBB penny stocks, Cannabis Science (OTC: CBIS) is less than 24 hours from their non-sanctioned annual holiday: April 20, 420. CBIS was a volume leader as the year began and has been a most traded leader for the last few months since rising from a literal penny to almost a quarter, $0.2455. The penny stock of the medical marijuana therapy company CBIS closed at $0.116, down -4.92% on volume of nealry 16 million shares.
The company announced yesterday that they are in the final stage of negotiations to purchase 50% of what is said to be a 10,000 sqft cancer center in Arizona that will aide over 500 existing medical cannabis patients from around the globe seeking cannabis-based treatments. Now, what better time for CBIS to announce such an expansion than on 420, Friday April 20th?
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CBIS Stock Snap Shot:
Market Cap: 46.93M
52 Week High
52 Week Low
Shares Outstanding: 384.67M
5 & 10 Day Stats:
5 Day % Change: -10.77%
5 Day Moving Avg: 0.1312
5 Day Avg Volume: 10,005,317
10 Day % Change: -20.00%
10 Day Moving Avg: 0.1386
10 Day Avg Volume: 16,504,935
CBIS filed their 10-K on the 16th reporting revenues of $73,702 fye December 31, 2011 compared to $4,166 in 2010. Operating expenses grew only $222 thousand compared to last year which is another step in the right direction.
Cannabis Science is at the forefront of medical marijuana research and development. CBIS works with global authorities on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce, and commercialize phytocannabinoid-based pharmaceutical products.
To view the SEC filed 10-K for CBIS, click here.
Bottom Line: Sometimes you just now when someone is gonna walk into the house that Ruth built and beat the Yankees. April 20th seems to be the only day, if CBIS has any intention of getting some free momentum and exposure, for them to announce the closing on the cancer center in Arizona.
CBIS was a 728% winner for our readers and subscribers when we picked it, cleaned it and rolled it up for you in January. It looks just as good now. Add CBIS to your list of penny stocks to watch for the remainder of the week ads this could get real hot real quick. RSI has dipped below 50 a few times in the last year and each time it does, CBIS goes on a rally for a good 30-40% gain.Share