Pot stock EVE coped a speeding ticket today when SP up 33% to 1.6 cent with a closing ASX significant volume of 213 mil. Part of EVE explanation to the ASX with a mention of QBL as follow:
This announcement also noted the recent change in Australian legislation regarding the sale of ‘hemp food’. This legislation was passed earlier this year and consumption in Australia was legalised effective 12 November 2017. It is estimated that the global market for this industry is in excess of $500m.1 The Company further notes that other companies with similar investments have also experienced a significant increase in price and volume. Queensland Bauxite Limited (ASX:QBL), has increased from 1.5 cents on 1 November to a high of 7.6 cents on 30 November. In the same period Creso Pharma Limited (ASX:CPH) increased from 54 cents to a peak of $1.65 and The Hydroponics Company Limited (ASX:THC) increased from 30 cents to a peak of $1.15.
Loved the explanation. Good Luck and Happy Days tomorrow.
QBL Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
