Woodland Hills-Calif.-based Vape Holdings, Inc. (OTCQB: VAPE) stock value has more than doubled in a month.
On Feb 14 shares of VAPE closed at $13.60, compared to VAPE’s closing price Mar. 13 of $30.10.
Practical Product in Demand
The maker of e-cigarettes that is targeting the legal marijuana market appears to have come up with a product that is practical and in demand.
Vape showcased its product at the American Glass Expo in Las Vegas, earlier this year. This included its proprietary line of HIVE Ceramics. The audience included industry experts and buyers in the world, according to a release from Vape.
“While I have always been confident in the appeal of the HIVE Ceramic line and its future as a healthy and pure vaporization option, the overwhelming interest and subsequent affirmation we received in Las Vegas was beyond my expectation,” said Vape CEO Kyle Tracey, in a written statement.
Tracey added that some buyers have placed orders with the company for its products.
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CannaVest Corp.’s Share Price Losing Ground
In other news, CannaVest Corp. (OTCQB: CANV) share volume soared Mar. 13, with 12,856 changing hands, significantly higher than its three-month average of 9,934 shares.
The surge in the Las Vegas-based developer of hemp-based nutritional products share volume and the downward trend of its stock’s price appears to be tied to a Mar. 6 clarification of CannaVest’s relationship with both General Hemp LLC and Kannaway LLC.
Clearing Up Confusion
Here’s an excerpt from the clarification:
Kannaway, LLC is marketed as a hemp lifestyle company with a focus on nutritional wellness whose products contain CBD rich hemp oil. Kannaway was founded in 2014 and is a wholly-owned subsidiary of General Hemp, LLC.
The sole owner of General Hemp is Stuart Titus. Mr. Titus formerly was a consultant and advisor to CannaVest, and currently owns less than 2% of the outstanding shares of CannaVest. Mr. Titus no longer has any affiliation with CannaVest, and no person affiliated with General Hemp is employed by CannaVest in any capacity. The sole relationship between CannaVest and General Hemp is Mr. Titus' ownership of CannaVest stock.
Products for Kannaway's business will exclusively be supplied by HempMedsPX, LLC, which is a distributor of federally legal, hemp-based CBD products and a wholly-owned subsidiary of Medical Marijuana, Inc. (MJNA). HempMeds is the master distributor and marketing company for CannaVest. As a result, CannaVest's product offerings will be available to Kannaway for its business. CannaVest has no ownership or other interest in Kannaway, and CannaVest solely will act as a supplier of products to Kannaway.
"We have received numerous telephone calls from the public leading us to believe there is general confusion relating to our relationship to Kannaway," says Michael Mona III, vice president of operations for CannaVest Corp.
On Mar. 13, CANV’s share price closed at $83.00, down $7.00 from its close of $90.00 cents the previous day.
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Terra Tech Corp Expanding Medical-Marijuana Footprint to Northeast
Meanwhile, Irvine, Calif.-based Terra Tech Corp. (OTCQB: TRTC), a company that provides hydroponic equipment for legal-marijuana growers, stock volume continued to soar Mar. 13 with 13,692,332 shares changing hands, nearly twice its three month average volume of 7,228,615 shares.
The uptick in volume is being fueled in part by Terra Tech’s recent announcement that it has formed a team that will focus on medical cannabis opportunities in the Northeast. The team will be headed by Evan Nison, the Executive Director of NORML New Jersey and Co-Founder and Director of New York Cannabis Alliance.
Evan, whose medical cannabis industry beginnings stem from the grassroots movement to tax and regulate initiatives, has been a driving force behind marijuana law reform in both New Jersey and New York. He brings years of experience and success running organizations focused on advocating on behalf of consumers, patients, business owners, and other stakeholders to progress sensible and responsible cannabis reform legislation.
This is just the latest move made by the company to firmly establish itself in the medical marijuana market.
On Jan. 29, Terra Tech Corp (through their subsidiary GrowOp Technology, said it formed a team focused on competing for permits to operate cannabis businesses within the state of Nevada. The team is to be headed by former principal lobbyist for the ACLU at the Nevada state legislature Rebecca Gasca, according to the release.
Hires Heavy-Duty Lobbyist
Gasca is CEO of Pistil and Stigma, a values-driven community and government relations firm that focuses on legislative change, public policy, program development, fundraising, advocacy and public relations. She is former Rotary International Goodwill Ambassador to Chile and recently served as a U.S. State Dept. Legislative Fellow to Nepal. In Nevada, she has lobbied successfully on hundreds of pieces of legislation and her firm worked closely on the medical marijuana dispensary legislation that was signed in to law by Republican Governor Brian Sandoval.
“We aligned ourselves with Rebecca due to her history of expertise in helping shape socially responsible legislation," Terra Tech Corp CEO Derek Peterson, said in a written statement. “She has been on the ground floor in Nevada since the inception of their medical cannabis dispensary bill and was instrumental in its formation. She is heading our team and assisting us in the formation of our applications,” he added.
On Mar. 13, TRTC’s share price closed at $1.24, down 16 cents from its close of $1.40 cents the previous day.
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Finally, GW Pharmaceuticals plc (OTCPINK: GWPFR) share volume was robust Mar. 13, with 488,614 shares changing hands, higher than its three-month average of 353,290 shares.
In addition, the London-based pharmaceutical developer of cannabis-based medicines stock price has been soaring. Only a month ago GWPFR’s share price closed at $61.72. On Mar. 13, GWPFR’s share price closed at $80.93, down $2.12 from its close of $83.05 the previous day.
This surging volume and share price is not surprising considering the company already has one of its major products approved.
Founded in 1998, GW commercialized the world’s first plant-derived cannabinoid prescription drug, Sativex®, which is approved for the treatment of spasticity due to multiple sclerosis in 25 countries.
Impressive Portfolio of Cannabis-based Medications in Pipeline
Sativex is also in Phase 3 clinical development as a potential treatment of pain in people with advanced cancer. This Phase 3 program is intended to support the submission of a New Drug Application for Sativex in cancer pain with the U.S. Food and Drug Administration and in other markets around the world.
GW has a deep pipeline of additional cannabinoid product candidates, including Epidiolex which has received Orphan Drug Designation from the FDA for the treatment of Dravet syndrome, a severe infantile-onset, genetic, drug-resistant epilepsy syndrome. Our product pipeline also includes compounds in Phase 1 and 2 clinical development for glioma, ulcerative colitis, type‑2 diabetes, and schizophrenia.
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