Don't jump to pessimistic conclusions immediately. Consider down days as a potential opportunity to get in names you like at better prices.
Here is a quick run-down of some declining marijuana stocks in trading on Wednesday, February 1st, 2017 (in alphabetical order by ticker symbol). As often mentioned, these companies are all worthy of further analysis given the lower share prices presented by down trading days.
Affinor Growers Inc. (CSE:AFI)(OTC:RSSFF)(FRA:1AF)
As of the close in Europe, shares of Affinor Growers were up 6.78%, closing at €0.063. However, both in Canada and the U.S., shares of Affinor posted losses on the day. On the CSE, shares of AFI closed at CAD$0.095, down 5.00% from their Tuesday close of CAD$0.10. Their U.S. listing also didn't fare well, finishing down 10.7% at $0.07. Volume in RSSFF today was significantly below their 30-day average volume of around 80,000 shares traded.
Cannabix Technologies' shares in Frankfurt finished the European session on the upside. They closed up 3.46%, ending the day at €0.598. On the CSE, Cannabix shares finished at CAD$0.79, down 3.66% from their prior close. In the U.S. BLOZF closed down 2.17% at $0.6163. Volume in their OTC listing was below their 30-day average trading volume of 233,000 shares.
Shares of CNBX closed Wednesday's trading at $0.94 per share on nearly 4x the 30-day average volume of 394,000 shares. Compared to Cannabics' previous close of $1.072 per share, this represents a 11.40% loss today.
Tetra Bio-Pharma, Inc. (CSE:TBP)(OTC:GRPOF)
Shares of Tetra Bio-Pharma closed the day's' trading at CAD$0.42 per share. Compared to TBP's previous close of $CAD0.45 per share, this represents a 6.67% loss today. Their U.S. ADRs finished the day down 13.4% at $0.3128. Tetra Bio-Pharma's volume in the U.S. was over three times their 30-day average trading volume.
First Harvest Corp. (OTC:HVST)
Shares of HVST closed trading today at $3.65, down $1.100, on higher volume than their 30-day average volume. Compared to First Harvest's previous close of $4.75, HVST's stock declined 23.16% today.
For more information and custom stock charts for any of the stocks mentioned above, be sure to check out their profiles in our cannabis-related equities database (also linked via tickers above). Also don't forget to connect with us on social media using the links to the right of the article.
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