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The Auscann Group Holdings Ltd (ASX: AC8) share price has been a big mover today after the pot stock announced that its first medicinal cannabis crop in Chile is now being harvested.
At the time of writing AusCann’s share price is up almost 6.5% to 82.5 cents.
According to the release approximately 300kgs of dried cannabis product from the harvest will be sent to a GMP certified manufacturing facility to be processed into medicinal cannabis formulations.
Furthermore, of the strains harvested, four have been selected as superior strains which have been clonally selected for future crops.
What’s next?
Should the clinical trials in Chile be successful, these formulations will be registered through the Chilean National Institute of Public Health and then made available for sale to Chilean patients and export markets.
This will also allow AusCann to import product ahead of the expected demand from authorised prescribers and patients in Australia, putting the company in a strong position to quickly provide patients access to the medication.
As well as the significant opportunity in the Australian market, managing director Elaine Darby believes there is a lucrative opportunity for medical cannabis products to be used for pain control in the South American market.
She is confident the company and its joint venture partner have selected the strongest and most appropriate strains for effective medicine formulations.
Should you invest?
Whilst I am a big fan of AusCann and its talented management team, I wouldn’t necessarily rush into an investment at this point purely on valuation grounds.
The shares of AusCann and fellow pot stocks Zelda Therapeutics Ltd (ASX: ZLD), Creso Pharma Ltd (ASX: CPH), and MMJ Phytotech Ltd (ASX: MMJ) have all run hard in recent weeks.
http://www.fool.com.au/2017/04/10/why-the-auscann-group-holdings-ltd-share-price-has-surged-higher-again/
JAX
Thanks for the post Mr. Elway!
JAX
sorry! I have know Idea why the link is not opening, but this was all that was stated... "The Auscann Group Holdings Ltd (ASX: AC8) share price has fallen 9% to 72.5 cents despite there being no news out of the pot stock. With its shares rallying strongly in the last month it would appear as though some investors have decided to take profit now." you can also find the article on the Google AusCann trading website. Under the ASX exchange.
JAX
100% spot on my friend, onwards and upwards!
JAX
That's okay, in my book it brings more eye's to our side of the block, punt intended.
These are the same type of article's written about CGC, I'm long and hard on this one!!!
Go AusCann!!! Another Green Day}
JAX
That would be nice!!!
JAX
AusCann kickin A$$$$$ Down unda .89 HOD currently at.87 14.47% up!!!
JAX
http://www.ibtimes.com.au/medicinal-cannabis-stocks-soar-australian-market-revels-pot-stock-boom-1548318
"The escalation is almost six times as compared to the companies in the United States and Canada."
JAX
You've proven my point!
Thank you and thanks for playing!
JAX
It's another layer of preventative measure's to help ensure a proactive stance on the brand, and what is wrong with that, may I ask? As this sector ( the first of it's kind) continues it's path to greatness, there are always going to be people spouting the sky is falling in hopes of generating panic, in it's deep seeded agenda, while trying to shy other away while capitalizing on the uncertainty of peoples fears already invested. It seems to me and my opinion only that there's a very nefarious agenda going on here.
Why is it the sky is always falling with you?... Just an honest question.
Cheers!
JAX
Movin on up! I like what am seeing}
JAX
You think? I Buy as much as I can when I can!!!
Go AusCann!!!
JAX
To each his own, I'm not trying to convince anyone on what they should do, only what my experience was with the same brokerage house, which was opposite the other. All pinkies and gray's are high risk play's only invest in what your able to lose. By the way, I hope my guy was right as well, but as we all know, nothing is a sure thing when it comes to stocks.
Cheers!
JAX
Hummm,
I have Scottrade and my broker informed me of the opposite. He infact told me straight up that the ticker is an ADR.
I grilled him and I've known him for almost three years and he's never done me wrong. So...I find it quite difficult in believing your post. I would try contacting their national support and see what you find. This topic is a done deal, time to move on nothing to see here.
Go AusCann!!!!
JAX
I believe you'll be fine as we still have a long ways to go, but accumulating shares are the hardest things to come by right now... unlike other stocks I've purchased, even when I slap the ask it doesn't get filled. So, when I finally do get my shares filled, I hold them tight BABY!!! ]:-}
JAX
Oh! And my opinion, we have an ex Australian Government insider on our board, not to mention Bruce.
Things are shaping up!
JAX
Nice post OSOROJO,
I agree, it's going to take some time, but the seed of future cannabis commerce is already taking root for the next phase of a nation wide development into the sector. We be good baby!!!
JAX
Regarding Warning!!!
I just got off the phone with my Scottrade broker, and he informed me as far as he could see on his computer, that infact our ticket symbol is in Australia and not in Amsterdam. Hummm
JAX
Yes indeed! I agree.
JAX
Waiting to load more shares looking for an opportunity.
JAX
Nicely put FASW!!!
JAX
I diffently feel it's a good thing, but like all things in this burgeoning new industry, a lot of it is a wait and see until we have better indicators as to the direction of the where we're going. It's definitely a positive move in my book, as it will be bring more legitimacy to our brand. IMHO!
JAX
To piggy-back on ford, yes...it would be very helpful if you can provide a link!
Thanks in advance,
JAX
Agreed, writings all over the wall on this one. That's exactly why I jumped on board. Nice grab on your shares!
JAX
What goes up, must come down at some point. If your waiting, you might want to take a small position just in case it continues to go up and save the rest incase it drops. But do what you feel is safe for your own financial peace of mind. JMHO
JAX
AusCann at 0.5723 are you kidding me????
JAX
.57 and counting, are you kidding me????
JAX
I just doubled my money$$$$$$$
JAX
Off to the races again!!!! Lovin it!!!!!
JAX
Visions of cannabis buds dancing in our heads! This baby is rip roaring in Aussie land!!!
JAX
Sorry peeps! Revised closing#'s, make that a close of .056 @ a 13.13% gain for the day
JAX
Yes, this baby is no JOKE!
JAX
JAX