Cannabis Stock Jumps Higher After Signing Distribution Agreement

1036200037 = Evgeny Glazunov|||

Daily Stock Market Summary: Major indexes are having another rollercoaster day, still at the mercy of geopolitics. Markets started the day down modestly, briefly rallied into positive territory, and are falling markedly at the time of this writing. Uncertainty over the situation in Korea, coupled with the US President’s comments that he “doubts” trade negotiations with China will succeed, appear to be driving the selloff. Meanwhile, yields on US 10-year Treasuries breached 3.1%, a level not seen since 2011.

Together, these ingredients appear almost certain to drive continued volatility, even as strong earnings place a solid floor beneath the market. This environment continues to drive exceptional profits for traders using quantitative, news-based strategies: the more volatile the market, the more individual stock movement is isolated from broader market swings. That’s precisely why hedge funds have been using news-based trading approaches for years. You can learn more about new-based trading, including foundational tips and a tour of our platform, in one of our totally free virtual training seminars.

Sign up using the button below:

Yes! Claim My Spot Now >>

Today’s Top Performer: Pivot Pharmaceuticals (AMEX:PVOTF)

Cannabis Stock Jumps after Announcing Distribution Agreement

PVOTFPivot is a biopharmaceutical company involved in the development and commercialization of therapeutic pharmaceuticals and nutraceuticals employing innovative delivery technologies. One of Pivot’s subsidiaries, Pivot Green Stem Solutions, researches and develops cannabis-based products such as “ready to infuse” powder. These products are manufactured by another subsidiary, Pivot Naturals.

Today, they announced a supply agreement with Stoney, LLC, one of California’s preeminent cannabis brands. Stoney will purchase the full Pivot product suite, including formulated capsules for targeted effects, bulk powder for baking additives, single-serve stick packs and, pet food supplements.

Investors are buying the stock on heavy volume since the announcement, driving it to gains a hair under 40% at the time of this writing. It has pushed up as much as 60% since the announcement.

Pivot Pharma announced their pivot to the white-hot cannabis industry in January of this year, driving a huge rally that has since evaporated. Investors appear to have moved past the euphoria stage and are now trading the stock based on its actual ability to make inroads in the cannabis sector. The size of California’s cannabis industry has been exploding since they legalized the recreational consumption of the drug in January of this year.

High-risk, high-reward sectors like blockchain and cannabis are lucrative targets for news-based traders. Whether or not you believe in the success of the underlying industries, volatile swings in these sectors are a consistent profit source for News Quantified users.

Keep checking the News Quantified blog as we feature a powerful sample of the 1000’s of profitable news alerts available to our users each week.

Leave a comment