Not exceptional, yet interesting – this is the Thursday of Cannabis Science Inc.(OTC:CBIS). Not exceptional for the stock price has been gravitating in its current level for quite some time now. Interesting, because the volume of traded shares skyrocketed for no apparent reason, with hardly any effect. 
So, more than 11 million shares exchanging hands. Less than 2% increase in the share price for the day. Started by? It was lastly heard of Cannabis Science on Tuesday, when the new business development figure was announced. The result – 12 times less trading activity and hardly any change in the share price again. What is more, yesterday’s hype could not be contributed to short selling, although some took place yesterday as well – almost 3 million shares exchanged hands due to short selling. There is, however, one more important question – where is this stock heading? [BANNER]
Ever since the February trading frenzy, the share price has been steadily declining until it reached the 2010 levels of $0.04 per share. A month of stability in this level followed as this trend continues up to date. Much uncertainty at hand, which is supported by the financial statements as well. The 10-Q for the first 3 months of 2011, for example, includes figures that could hardly inspire optimism. Especially noticeable is the net loss ($2.7 million) and the revenues ($11k). Combined with $10k in cash, the whole picture becomes even more misty. In terms, this might make the company a favourable play for short-term speculative investors, but its appeal to long-term ones is questionable.
