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Sunday, December 4, 2022

An Insight into Price Movement of CannaVEST Corp (OTCMKTS:CANV)

CannaVEST Corp (OTCMKTS:CANV) continues to move steadily upwards after a retest of support around $2.50. CANV has a history of big moves running from $25 to $200 the last time the sector got hot.

The major catalyst however for 2015 is expected to be the rescheduling of marijuana out of its current Schedule I classification. In October U.S District Judge Kimberly Mueller heard testimonies during a five day evidentiary hearing aimed at determining if the Schedule I dangerous drug is unconstitutional.

The ruling is expected to come sometime later this year and many expect to see a domino effect for the entire pot sector culminating in treasury issuing rules and regulations for working with marijuana businesses. Once they are able to use banks the entire business is expected to really take off.

Pot stocks are heating up big time and once gain CANV is leading the fold; there is plenty to get excited about here; the pot business is booming and experiencing massive growth. According to MMJ Business Daily, 2015 is expected not only to see more investment dollars flow into the market but it could even outpace the growth rate seen in 2014. States like Nevada, Illinois, Massachusetts, Oregon, and Alaska have all been identified as industry drivers this year. Furthermore, the rise in “big money” from some major investment funds has just started to hit the sector.

CannaVEST Corp (OTCMKTS:CANV) is a manufacturer and distributor of hemp and Cannabidiol (CBD) based products. The Company is focused on the procurement and wholesale of the hemp plant extract cannabidiol (CBD), and the development, marketing and sale of end consumer products containing CBD, which is refined into its own PlusCBD Oil™ brand. CannaVest resells raw industrial hemp product to third parties, acquired through supply relationships in Europe.

Much has been made of the fact that CANV is not technically a pot stock; the Company sells CBD related products but this seems to matter little to speculators who bided up the shares of CANV more than any other in the sector. The move last year was so EPIC that CANV was featured in Forbes in an article that looked at the Company’s formation and noted that CANV backer Bart Mackay was worth $1.8 billion on paper when CANV hit $200.

CANV subsidiaries are: CannaVest Laboratories is a global phytocannabinoid biotechnology company based in San Diego. Our focus is the science of phytocannabinoids and the marketing and distribution of phytocannabinoid-based products. We utilize advanced cultivation methods and state-of-the-art processing technology that lead to the development of hemp-based pharmaceutical and nutraceutical products.

Cibdex™ is the first commercially available phytocannabinoid-rich hemp extract that is manufactured based on current good manufacturing practice (cGMP) protocols (in accordance with FDA’s Current Good Manufacturing Practices).

Cibaderm™ is a revolutionary personal care line infused with our Hemp CBD Complex™—a unique extraction of the hemp plant—and natural steam-distilled botanicals. Indulge your body with the power of Cannabis Beauty™. Your skin, hair, and nails will look healthier and more radiant, naturally, thanks to Cibaderm™.

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US Hemp Oil is dedicated to the procurement, processing, marketing and distribution of bulk wholesale hemp oil, protein, food and hemp body care products. US Hemp Oil is determined to bring hemp food products into the mainstream by creating greater public awareness and media exposure for the exceptional nutritional profile of hemp seeds and the environmental benefits of growing industrial hemp.

The PlusCBD™ emblem is the first universal standard for CBD quality control and quality assurance. Every product bearing a PlusCBD™ monogram certifies that your hemp-based CBD originates with us. It is a visual reminder to your customers that you have added CBD to your product. PlusCBD™ assures your customers that they are getting a safe, legal ingredient in your products.

CannaVEST has some interesting characters behind it, the two lead figures being CEO Michael Mona, Jr. and backer and primary shareholder Bart Mackay. According to the Forbes article ”Michael Mona Jr. went before the Nevada Gaming Control Board seeking a license for his Mediterranean-style Sunrise Suites hotel and casino in Las Vegas, it didn’t go well. The board, reportedly wary of his ties to shady telemarketers, including one who spent time in jail, told Mona his application would be rejected. He in turn withdrew his application and subsequently filed for personal bankruptcy when the casino could not open.”

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Currently trading at a whopping $142 million market valuation CANV numbers have improved significantly; according to the 10Q from November 19 CANV has a strong cash position of $4.8 million in the treasury with just $400,000 in liabilities. The Company reported $7,497,616 in sales for the 9 months ended September 30, 2014 up from $1,353,720 for the same period last year.

Now that pot stocks are taking center stage on the OTCBB, CANV is once again proving to be the pot stock that investors flock to in droves pushing the price skyward. CANV has gone absolutely parabolic on massive volume and is currently the top traded stock on the entire exchange. CANV is a stock to watch.

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Disclosure: we hold no position in CANV either long or short and we have not been compensated for this article.

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