The stock of PharmaCan Capital Corp (CVE:MJN) hit a new 52-week high and has $5.26 target or 177.00% above today’s $1.90 share price. The 8 months bullish chart indicates low risk for the $289.47M company. The 1-year high was reported on Nov, 16 by Barchart.com. If the $5.26 price target is reached, the company will be worth $512.36 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 893,217 shares traded hands or 39.12% up from the average. PharmaCan Capital Corp (CVE:MJN) has risen 6.00% since October 17, 2016 and is uptrending. It has outperformed by 1.31% the S&P500.
More notable recent PharmaCan Capital Corp (CVE:MJN) news were published by: Marketwatch.com which released: “Jason Adler Announces Increase in Equity Interest in PharmaCan Capital Corp.” on June 08, 2016, also Midasletter.com with their article: “PharmaCan Capital Corp (TSX.V:MJN) CEO Paul Rosen Interview and Podcast” published on February 20, 2015, Marketwired.com published: “PharmaCan Capital Corp. Announces Approval of Increased Production Expansion …” on April 01, 2015. More interesting news about PharmaCan Capital Corp (CVE:MJN) were released by: Marketwired.com and their article: “PharmaCan Capital Corp. to Open Toronto Stock Exchange” published on January 13, 2015 as well as Marketwired.com‘s news article titled: “PharmaCan Capital Corp. Announces Mortgage Financing Relating to In The Zone …” with publication date: February 05, 2015.
PharmaCan Capital Corp., formerly Searchtech Ventures Inc., is a merchant bank, which is focused on investing in Canada’s medical marijuana industry. The company has a market cap of $289.47 million. The Firm is engaged in the business of investing in companies either licensed or seeking a license to produce medical marijuana. It currently has negative earnings. The Firm operates through two divisions: Investing Segment and Operating Segment.
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