Medical Marijuana Stocks Back On Track As SEC Fears Decline

If anyone had wondered if Creative Edge and co. had been playing fast and loose with trades or paperwork, chances are they’re not wondering anymore. And their recent lightning quick decision to sever all ties with Growlife , a company that stands suspected by the SEC of having cut corners in trades and accounting, doubles down on the credibility front.

Creative Edge is already a $267.7 million market cap player with 3.4 billion shares outstanding, so they might not be in the sights of the Canadian day trading penny play crowd, but as an example of how to de-risk your game, they’ve set a solid example for others.

The market agrees: FITX is up 23.5% today, building up off a dip.

Seaway Energy Services ( TSX:V.SEW , Stock Forum ) has been trade-halted, at the company’s request , with pending news. Seaway shares have quietly and consistently climbed to a near 52-week high of $0.34, up from $0.10 in early March when it announced it was becoming a potco. It has an ultra-tight share structure and just a $1.4m market cap, so if the news coming is brand-building in nature, holders are about to be VERY happy.

Also trade-halted is Supreme Pharmaceuticals ( TSX:V.SL , Stock Forum ), though this one is ‘ pending review of change of business ,’ which has had Chlormet stock tied up for over a week now and could see a long delay while paperwork is filed and reviewed.

Tweed ( TSX:V.TWD , Stock Forum ) is showing some wild swings in price over the last week, with the company having gone from $3.60 down to $2.40, and now back to $3.40 in just the last five trading days. Other than a deal to bring a brand of vaporizers into the Tweed customer offerings, theres been no news to warrant that kind of movement in either direction.

Considering their turns have matched the US sectors crazy run of late, it likely points to that company having a large US investor base that should be considered by Canadian buyers going forward.

To read more, visit http://www.stockhouse.com/news/newswire/2014/04/17/medical-marijuana-update-weed-stocks-back-on-track-as-sec-fears-ebb

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