{"id":3711,"date":"2014-01-27T12:15:12","date_gmt":"2014-01-27T12:15:12","guid":{"rendered":"\/?p=3711"},"modified":"2014-01-27T12:15:16","modified_gmt":"2014-01-27T12:15:16","slug":"cannabis-science-inc-otcmktscbis-closing-in-on-previous-high","status":"publish","type":"post","link":"\/articles\/cannabis-science-inc-otcmktscbis-closing-in-on-previous-high\/","title":{"rendered":"Cannabis Science Inc. (OTCMKTS:CBIS) Closing In On Previous High"},"content":{"rendered":"\n

Cannabis Science Inc. (OTCMKTS:CBIS<\/a>) more or less managed to recover its upward momentum on Jan. 17. The ticker hasn’t achieved anything like the 21.69% jump it registered then, but is presently on the ascent.<\/p>\n

Although the rise is significant it certainly wasn’t unexpected. President Obama’s statement that “Marijuana is no more dangerous than alcohol” didn’t make that much of a splash. Eric Holder’s, on the other hand, seems to have impacted the market significantly.<\/p>\n

The U.S. Attorney General made a series of statements on Thursday, declaring that steps will be made that will help the American legislation recognize marijuana-related companies as legitimate businesses, which in turn will allow them access to banking. <\/p>\n

It should be obvious how removing a major hindrance, such as the lack of banking services, would benefit both major players on the pot-stock market and small-time vendors. The news triggered another fit of frantic buying, and as a result companies all over the sector are presently on the rise – CBIS<\/a> made a 9.23% up on Friday.<\/p>\n

The ticker opened the last session of last week at $0.1345 and quickly shot up, but failed to maintain its high for long. It dropped as low as $0.133 after about half an hour, then stabilized and closed at $0.142.<\/p>\n

Although the jump was greater with some other companies in the branch, most marijuana related tickers registered a similar rise on Friday. Terra Tech Corp. (OTCBB:TRTC<\/a>), HEMP<\/a>, INC.(OTCMKTS:HEMP<\/a>) and Medical Marijuana Inc. (OTCMKTS:MJNA<\/a>) all went up, by 17.5%, 14.03% and 14.81%, respectively.<\/p>\n

Regardless of how promising the present numbers seem, and how optimistic the news and hopeful the statements are, it should be noted that Robert Melamede – the company’s president is selling his shares. The company has no less than six Form 4 filings since the year’s start, all of them reporting sales by said beneficial stock owner – Jan. 22 alone Mr. Melamede sold 164,700 shares of common stock.<\/p>\n

Buyers are encouraged to do their due diligence before investing, especially given the market’s present volatile state.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cannabis Science Inc. (OTCMKTS:CBIS) more or less managed to recover its upward momentum on Jan. 17. The ticker hasn’t achieved anything like the 21.69% jump it registered then, but is presently on the ascent....<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[229,228,8,259],"class_list":["post-3711","post","type-post","status-publish","format-standard","hentry","category-news","tag-cbis","tag-hemp","tag-mjna","tag-trtc"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=3711"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3711\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=3711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=3711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=3711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}