Cannabis Science Inc. (OTCMKTS:CBIS) Struggles Up Again

Cannabis Science Inc. (OTCMKTS:CBIS) managed to add another 18.46% to its market value yesterday, after nearly 19 MILLION shares changed hands.

CBIS has had an interesting journey up and down the charts in the last few days. A boastful and optimistic announcement flung it up on massive volume on August 18, after which it suffered a serious correction.

The fall proved short-lived, and now CBIS is back on its feet, having added more than 40% to its market value in the last two sessions alone – which is odd in and of itself. Why?

Because there doesn’t seem to be a good reason for this bounce. CBIS‘s initial jump may be attributed to hype caused by a marijuana-related company’s boasts. The sudden and violent crash that followed is the natural consequence of said hype dissipating, as it inevitably does. There does not seem to be an obvious reason for the resurgence that followed.

It’s not like CBIS has published any meaningful press releases, reports or social media posts in the last week or so. In fact, it is delinquent in filing its latest financial report, for Q2 2015 – and yet, in spite of that, the ticker just seems to be gathering upward momentum. Of course, online commenters such as MicroCapDaily and StockMarketMonitors have covered the company on occasion, however, the timing of the jumps and the publications of said articles suggests that said pieces are not the reason why CBIS is on its way up once more.

Thus it is not difficult to conclude that CBIS‘s current bounce is baseless. And, as we all know, baseless jumps inevitably end abruptly and messily – often sooner rather than later.