Cannabis Science Inc. (OTCMKTS:CBIS) Stabilizes After Crash

Cannabis Science Inc. (OTCMKTS:CBIS) started the new year with a sudden drop, but recovered immediately after and soon was headed back up. The Friday session brought yet another 20% crash and the company looked like it was going to go down hard, before it managed to stabilize yesterday. 

Jan. 3 brought many companies down, as a market seizure gripped the entire marijuana branch. Sector-wide crashes ensued, but luckily for most of the participants that only lasted for a single day. All key pot-stock players were upward-bound again in no time, and most of them managed to jump up real high before the second market contraction that took place at the end of last week.

CBIS, as well as most weed-related companies crashed down hard, but are presently doing a great job of picking themselves up and moving forward. Cannabis Science seems to be falling behind in this respect – companies like Tranzbyte Corp (OTCMKTS:ERBB) and GreenGro Technologies, Inc.(OTCMKTS:GRNH) have made serious ups in the first session of the week, whereas CBIS managed to climb a mere 3.95% from its closing point on Friday.

Under normal circumstances this wouldn’t be all that surprising, since there’s not much going on with the company presently. The only news that would be remotely relevant is the fact that a director sold some of his shares, if only the amount wasn’t so insignificant.

What’s surprising is that the company’s share value remained stable after Friday’s market seizure, instead of either plummeting down or shooting for the sky, like all other tickers in this line of work seem to be doing lately. It’s true that the number of trades has decreased dramatically, but we’re still talking around 3500 transactions – ample opportunity for hype-driven fluctuation, which oddly enough did not happen.

CBIS is currently trading 4.13% down in today’s session.

Another marijuana related company that didn’t manage to resume its ascent yesterday is Medical Marijuana Inc(OTCMKTS:MJNA), who also got about 3% ahead by closing time.