Volume heats up in cannabis market
They say a rising tide lifts all boats, and I for one sure hope so. Earlier in the year I made a bet on CBIS. A Colorado based medical marijuana company with a market cap of under 50 million. This stock lives on the Pink Sheets and that alone will let you know this trade is not for the faint hearted. However if you been crazy enough to find yourself perusing the likes of my insane blog, then you just might have the stomach to handle this one.
I’m back at the buying of CBIS here. It looks like a .05 cent bottom is in place, and could make short work of the next .05 move. A double here would still have the market cap under 100 million. When you’re speculating on a micro caps in the “pinks” you generally don’t abide by any conventional mathematics, but more of a degenerate OTB style.
So without any further ramblings I think CBIS can trade .10-.15 by year end.