Anyone who might be on the hunt for cannabis stocks this morning might consider taking a look at the INDVR Brands Inc. (CNSX:IDVR) (OTCMKTS:CAAOF) stock, which had clocked gains of as much as 50% last Friday.
Trading Data
On Friday, IDVR stock soared 50% to close at C$0.0150 with more than 500 shares traded, compared to its average volume of 40 shares.
Recent News
It is highly likely that the stock is going to come into focus among investors today and hence, it may be a good idea to take a closer look. There was no news about the company on Friday and in fact, the last time any news emerged about the company was back on December 14 last year.
INDVR Brands, which is regarded as one of the leaders in the premium cannabis brand space, announced at the time that it had gone into a strategic partnership with the company Bhang Inc. Bhang is a cannabis CPG brand company that has a global presence and the partnership could in fact prove to be a long term boost for INDVR as well.
The companies are going to be working together for the aim of launching products from Bhang in the state of Colorado in the United States. The latest rally might seem random but investors ought to keep an eye on the news with regards to INDVR Brands.
Technical Data
IDVR stock is trading below the 20-Day and 50-Day Moving averages of $0.0149 and $0.0170 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0414.
