Friday Mind Your Order Type!

Stocks stumbled a bit out of the gate but quickly headed back into the green for the day. Biotechs took a little breather after its recent powerful run. International equities continue to lead global markets this year and U.S. value is starting to see some rotational benefit.

Cannabis stocks struggled on this Friday trading session. Volumes were low, profit taking in recent high flyers, and poor trading behavior to cap out the week.

We have noticed a lot of poor trading in many stocks. Investors and traders need to be more aware of their order types, sizes, and how this all relates to the liquidity of the underlying ticker. Market orders are generally reckless in the OTC markets. If you are not sure what this means, we suggest doing your homework. Whether you realize it or not, your trades can significantly impact prices, which can lead to unintended consequences such as market confusion, distortions, etc.

Market bellwether GW Pharmaceuticals (NASDAQ: GWPH) has had some very positive price action following, what seems to be, major progress with its pipeline. The company announced today that it has received orphan drug designation from the FDA for cannabidiol for the treatment of neonatal hypoxic-ischemic encephalopathy, brain damage caused by oxygen deprivation in newborns. Additionally, Merrill Lynch raised GWPH’s analyst price objective from $115 to $155.

 

The discussion above is provided for informational purposes only and does not constitute an offer of, or solicitation for, any investment services or products offered by the author. The author is not making any investment recommendations and the opinions above do not constitute investment advice. Reference to above indices [and companies] is based on information provided by sources the author believes to be credible. Investing in the cannabis industry, as with other industries, presents certain risks including the risk of loss on an investment.

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