GW Pharmaceuticals (GWPH) is a British biopharmaceutical company known for its multiple sclerosis treatment product Sativex, nabiximols (brand name, Sativex). Sativex is the first natural cannabis plant derivative to gain market approval in any country. Another cannabis-based product, Epidiolex, for treatment of epilepsy, underwent phase 3 clinical trials in 2015.
Reported before open today (5/5/16) Earnings: EPS -$0.09 Revenue $3.81M Estimates: EPS -$1.57 Revenue $5.99M Down 2.93% in pre-market
Looks like Fridays sell off was a mistake that sellers are regretting. Buyers piling back in big time!
I like this action today, but I think it is going to need a lot more volume to get over that $130 resistance:
GW Pharmaceuticals Stock Is Just Getting Started Some laugh at the idea of marijuana stocks, but GWPH stock is no laughing matter http://investorplace.com/2016/12/gw...gwph-stock-just-getting-started/#.WEbkirKLTIU
The problem for shareholders is that the company seemingly has run out of positive catalysts for the time being. GWPH’s Epidiolex story is right on track. However, the company will submit the new drug application (NDA) for Epidiolex in the first half of 2017 … and after that submission, GWPH shareholders might have to wait until the end of 2017 for the next piece of good news. Without a reason to buy, investors and traders might take some of their profits off the table, especially in the first few months of the year.
Let's see if this can hold above the 20 sma. I'm seeing on finviz only 2.25M shares in the float(!), and only 30M shares total outstanding.