Marijuana stocks took a nose dive Monday as the S & P 500, Dow Jones and NASDAQ cannon balled into the red.
Last week's frontrunner Growlife, Inc. (OTCBB: PHOT) is currently trading at 0.504, down 0.080 (-13.73%). Medical Marijuana Inc., (OTCMKTS:MJNA) who finished in the green Friday is in the red, trading at 0.300
However, there are some marijuana stocks that are weathering the market storm:
Tranzbyte Corporation (OTCMKTS:ERBB): Currently trading at 0.0850, up 0.0102 (13.64%) - According to reports on Friday, the company signed a Letter of Intent to form a strategic partnership with Abattis (OTCMKTS:ATTBF) "...to sell, market or otherwise license one another's products in their respective regions..." The release goes on to state that once the arragment is done, "..Tranzbyte will have access to Abattis's expanding suite of bio-ceutical grow products found in the Biocube Green Grow Systems for cultivation (LED's, Nutrients - Natures Juice)."
Terra Tech Corp. (OTCMKTS:TRTC): Currently trading at 1.02, up 0.14 (16.57%) -The company announced this morning that it's developing a research and industrial extraction facility focused on the medical cannabis market in Oakland, CA.
Another marijuana stock leader from last week maintaining today's market drop is Nuvilex Inc.
(OTCMKTS:NVLX). Nuvilex is currently trading at 0.348, up 0.013 (3.79%). mCig Inc. (OTCBB:MCIG) is trading at 0.815, up 0.025 (3.16%).
The S&P 500 as of mid-day Monday was at 1,852.88, down 13.64 (-0.73%). The NASDAQ Composite was trading at 4,206.38, down 70.41 (-1.65%), and the Dow Jones Industrial Average was at 16,237.87, down 64.90(0.40%).