The time to revisit the hottest marijuana penny stocks from the first quarter is fast approaching. Short-term gains were booked by those who bought into them between the last week of December and the middle of March with almost all of them offering up profits of 1,000%. SEC suspensions and numerous scams lead many to abandon the sector entirely which lets those who are still speculating that, long-term, many of these companies will actually see themselves back in the spotlight, like Cannabis Science, Inc. (CBIS) for example, could mean that now is the time to start looking for entry points while many of them are at 3 month lows.
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CBIS Stock Quote
Market Cap: 59.30M
Last: 0.0711 ▲ +0.0010 (+1.43%)
Volume: 4,830,212
Dollar Volume: $351,841
Open: 0.07
High: 0.0775
Low: 0.07
Trades: 412
14-Day RSI: 32.42%
1st Resistance Point: 0.0757
1st Support Level: 0.0682
52Wk High: 0.298
52Wk Low: 0.028
Focusing on HIV/AIDS (CS-TAT1-I) and Cancer (CS-S/BCC-1), Cannabis Science was one of the pioneers to embark on the medicinal marijuana industry. Looked at more as a biotech rather than a distributor of marijuana related products, CBIS stock has seen some good times over the past 3 years even though their product pipeline is still only in pre-clinical study stage.
Revenues from educational materials or online seminars are a mere fraction of what it costs to keep the lights on at Cannabis Science which is why the issued and outstanding shares of CBIS stock are almost equal to the total authorized amount which is due to lead to one of two choices the company must soon make. Either there is due to be a filing soon to increase the total number of authorized shares which will not be accepted well by the investor community, or they will opt to effectuate a reverse split to free up some shares to be issued – an action that has had mixed results with other penny stocks like Muscle Pharm Corp. (MSLP).
The chart for CBIS stock is almost identical to that of Medical Marijuana, Inc. (MJNA) and Hemp, Inc. (HEMP), two of the other fallen weed heroes that have been around for over 2 years. While the revenues for CBIS are nothing compared to MJNA or HEMP, the 3 should continue to trend along side each other, just like Freddie Mac (FMCC) does with Fannie Mae (FNMA), with the catalysts now being more states that legalize the sale and distribution of medicinal and recreational marijuana.
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About CBIS Stock
Cannabis Science, Inc. is a development stage company 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.
Click here to view the SEC filings for CBIS.
Click here to view the website for Cannabis Science.
Authorized: 850,000,000
Issued and Outstanding: 834,023,906
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Change | Volume |
| 05/21/14 | 0.0700 | 0.0775 | 0.0700 | 0.0711 | +0.0010 | +1.43% | 4,830,200 |
| 05/20/14 | 0.0710 | 0.0710 | 0.0689 | 0.0701 | -0.0009 | -1.27% | 5,662,800 |
| 05/19/14 | 0.0727 | 0.0745 | 0.0700 | 0.0710 | -0.0006 | -0.84% | 4,954,700 |
| 05/16/14 | 0.0739 | 0.0739 | 0.0700 | 0.0716 | -0.0023 | -3.11% | 3,963,600 |
| 05/15/14 | 0.0757 | 0.0775 | 0.0724 | 0.0739 | -0.0007 | -0.94% | 2,684,200 |
Bottom Line:
There are much better marijuana penny stocks to choose ahead of CBIS, but few, if any, are at the tipping point in terms of having issued the maximum number of shares allowed before being forced to make a change. If CBIS stock was to do a reverse split, chances are it would see a run heading into the date prior to it, whereas a return to under 0.05 is likely if they simply increase the number of shares authorized. Either way, the view other than a quick, perfectly timed flip, has to be long rather than short and probably best put aside until they file their Q for the 3 months ended March 31, 2014.
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