Big Day for United Cannabis Corp (OTCMKTS:CNAB)

United Cannabis Corp (OTCMKTS:CNAB)

United Cannabis Corp (OTCMKTS:CNAB)

United Cannabis Corp (OTCMKTS:CNAB) shares gained over 28.5% on volumes almost five times their 30-day, daily average. CNAB shares closed Friday at $0.87 and gapped up to open at $0.93 and moved as high as $1.27 before closing at $1.118. CNAB shares have had quite a ride over the last year. Their 52-week high was $3.35 and their 52-week low was a paltry $0.001. Today over 1 million shares traded hands – a number that could convince some traders that a continued upswing may be in the cards.

United Cannabis Corp (OTCMKTS:CNAB) has been in the medical cannabis sector since 1999 – when it first came on the scene as a legal therapeutic in California. The company’s CEO, Earnest Blackmon, and CTO, Tony Verzura, have a combined experience of 30 years in the industry. That experience, many experts believe, gives them in edge in the industry among such operational skills such as regulatory compliance, genetics, proprietary extraction methods, marketing, and wholesale distribution – among others. At its core, United Cannabis Corp (OTCMKTS:CNAB) is committed to progressing the use of cannabinoids in medicine with a strong focus on refining plant genetics for medical grade strains.

Affiliates

United Cannabis Corp (OTCMKTS:CNAB) has five affiliates. Harborside Health Center is located in California. They claim they are considered the Gold standard when it comes to cannabis innovation, activism, and medicine. Their brand is among the most recognized in the medical cannabis industry. Prana Bio Nutrient Medicinals markets a wide selection of raw and active cannabinoid supplements, using differentiated delivery systems. Also in United Cannabis Corp (OTCMKTS:CNAB) affiliate program is Marcus Richardson who is popularly known as Bubbleman – the producer of the YouTube channel Bubbleman’s World. United Cannabis is a brand ambassador for the Bubbleman brand. Cannabinoid Research and Development (CRD) is a Jamaican-based subsidiary of United Cannabis Corp (OTCMKTS:CNAB). The company focuses on genetic restoration, cannabinoid isolation techniques, scientific research, and educational programs. Lastly, Blue River Extracts receives global utility patents from United Cannabis Corp (OTCMKTS:CNAB) for the use of terpenes as a dilutent for their aromatherapy line.

By The Numbers

United Cannabis Corp (OTCMKTS:CNAB) revenues show a definite uptrend. In 2014 they reported $186,000 and by 2016 that figure was $715,000. Shareholder equity has improved over the last year. In 2015 it was a loss of $2.4 million but that loss narrowed to a loss of $476,000 in 2016. Obviously the company has the pedigree and connections to garner market share, but investors will have to decide if their execution deserves a place in one’s portfolio. But there is no doubt that this is one to keep an eye on in the burgeoning cannabis space.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. All information, or data, is provided with no guarantees of accuracy.

Don’t miss out! Stay informed on $CNAB and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Author: Marcus Anderson

Marc has a degree in economics and a MSc. in Finance. Marc worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Leave a Reply

Your email address will not be published. Required fields are marked *