Hemp Stock “On Fire” After Positive Operations Report
Rather than finding a clear direction, markets continue to exhibit incredibly volatile trading patterns. After Chinese announcements of new tariffs on US goods ranging from autos to microchips, markets opened far below yesterday’s close, only to surge toward neutral in short order during the morning’s trading. The rally seems to be buoyed by assurances by US officials that these tariff proposals are the first steps toward a negotiation process, and not a trade war. Yet markets were again receding into loss territory at the time of this writing.
The macro picture for equities markets remains incredibly murky: investors are trading on uncertain variables now including global trade risks, interest rate pressure, and monetary policy. Luckily, news-based trading systems continue to cut through this noise to deliver consistent profits. These strategies, utilizing quantitative analytics platforms, don’t know the future of the macroeconomy. And they don’t have to: the momentum generated by news events easily trumps broader market momentum—even during the furious trading of the past several months.
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Today’s Top Performer: Green Cures – AMEX:GRCU
Green Cures, operating in California since 1986, develops, manufactures and distributes hemp-based products in product categories including skincare, fashion and home goods (all branded under Original Hollywood Hemp). It also sells beverages under the Iconic Beverages brand.
This morning, GRCU announced the opening of a new office in Woodland Hills, CA, a physical manifestation of substantial efforts to improve the packaging and expand the distribution network for a revamped product lineup. Meanwhile, they also announced approval from California to build a new manufactory for recreational cannabis products.
Investors started buying up the stock on the announcement, driving its price up over 25% at the time of this writing.
Legal cannabis is a white hot, high-risk reward sector. Often, the attention gets focused on hot new startups in this space. But today’s Top Performer is a reminder that, in the competition to get a market share in the potentially lucrative industry, existing players in peripherally related industries could have a huge leg up. They already have existing corporate infrastructure, distribution networks, and years of operational experience. Either way, News Quantified users will be poised to benefit from the competition.
Keep checking the News Quantified blog for a sample of the 1000’s of profitable stock plays (long and short, microcap to mega cap) available to our users each and every week.