Oh to think, if you took our advice of grabbing $1,000 worth of CannaVEST Corp. (CANV) when we alerted it when it was still under $13, oh what a difference your net worth would be. Soaring to levels never expected, CANV stock set new highs the last 3 trading sessions, topping out at $201 Friday, that $1,000 invested long in the lowest float marijuana stock out there would pack a bowl worth almost $16,000 today – $2,000 would almost be worth enough to buy an entry-level muscle car from Saleen Automotive, Inc. (SLNN). With a very interesting portfolio and a true trailblazer in Bart P. Mackay helping to finance them, to think that $500 a share at some point this year is out of the question would be just plain pessimistic.
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CANV Stock Quote
Market Cap: 1.64B
Last: 140.00 ▲ +15.00 (+12.00%)
Volume: 50,067
Dollar Volume: $8,022,862
Open: 140.00
High: 201.00
Low: 132.00
Trades: 1,281
Authorized: 190,000,000
Issued and Outstanding: 11,744,167
14-Day Rel Strength: 79.73%
1st Resistance Point: 186.5833
1st Support Level: 107.8333
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Marijuana stocks, for the most part, have been priced at levels where every Tom, Dick and Harry can throw some pocket cash at and simply ride the momentum they bring. When we uncovered what CannaVEST Corp. was working on back in March of last year, although it was never really a penny stock, it was one we were sure was going to be for the record books.
On Friday, CannaVEST closed higher than Monsanto Company (NYSE:MON) and Syngenta AG (NYSE:SYT), 2 of the largest agricultural giants who have both been at the forefront of global cannabis legalization for purposes other than it’s recreational use. This push towards legalization for the purposes of advancing the biotechnology industry is provides tremendous support for companies like CannaVEST who have already made a footprint and are simply biding their time before being able to ramp up their product offerings.
One major upside to CANV is that CannVEST has already reported having generated some $1.35 million in revenues during the first 9 months of 2013. They did so by taking advantage of an emerging worldwide trend to re-energize the production of industrial hemp and to foster its many uses for consumers.
However, although CannaVEST was solely supplying their raw product, Cannabidoil (“CBD”) – an oil derived from hemp stalk and seed, to third parties, during Q3, the Company released their first consumer products which are sold to consumers via HempMeds PX, the company’s distributor. The raw CBD sold by CannaVEST, branded as Real Scientific Hemp Oil, is the base of a slew of products which are developed with their CBD.
What we think is going to be one of the biggest markets which CannaVEST can break into will be the protein powder, or meal-replacement, market which has ignited Company’s like MusclePharm Inc. (MSLP). Branded as HempFit, the product line is expected to have basic hemp food products like hemp seed oil and hemp protein powder which, in the future, can and will be enhanced with CBD for additional health and wellness benefits.
In terms of the magnificent run CANV stock has been on since around mid-December, there is really only event which really brings some concern. Back on November 7, 2013, the Board of CannaVEST Corp. unanimously approved the intention to sell up to $10 million of restricted CANV stock in a private placement to accredited investors at a price per share of $1.00. If $1,000 at our alert price of $13 seems like a sweet deal, imagine what holding $1.00 shares when the price has just popped over $200 would feel like.
About CANV Stock
CannaVEST Corp. is a development stage company developing, producing, marketing and selling end consumer products to the nutriceutical industry containing hemp plant extract, Cannabidoil (CBD) and reselling to third parties raw product acquired by the Company pursuant to its supply relationships in Europe.
Click here to view the SEC filings for CANV.
Click here to view the website for CannVEST.
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Change | Volume |
| 02/21/14 | 140.0000 | 201.0000 | 122.2500 | 140.0000 | +15.0000 | +12.00% | 50,000 |
| 02/20/14 | 104.0000 | 135.0000 | 100.0000 | 125.0000 | +27.0000 | +27.55% | 19,500 |
| 02/19/14 | 80.0000 | 120.0000 | 80.0000 | 98.0000 | +18.0000 | +22.50% | 16,200 |
| 02/18/14 | 77.0000 | 84.0000 | 72.0000 | 80.0000 | +11.0000 | +15.94% | 12,400 |
| 02/14/14 | 65.0000 | 69.0000 | 64.5000 | 69.0000 | +4.0000 | +6.15% | 4,500 |
Bottom Line:
CANV is a beast! The way it’s moving right now in anticipation of their first ever 10-K is simply breathtaking considering it’s both a marijuana stock and listed on the OTC. Waiting to see that SEC filed 10-K come out is going to be a deciding factor as to whether CANV can push to $300 or is going to retrace back to under $100. Right now, you gotta expect the tornado if you’re betting on the farm.
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