Resource Junior Powers Higher on Marijuana Acquisition Talks

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Cameo Resources Inc. (CVE:CRU), a resource junior, climbed after announcing that it has been exploring medical marijuana acquisition opportunities

Sean Mason | November 4, 2016 | SmallCapPower

Marijuana stock speculation continues to run rampant, sending shares of a resource junior sharply higher Friday. Here’s some small stocks making big moves on Friday, November 4, 2016 (as of 4 pm EST):

Cameo Resources Inc. (CVE:CRU) shares jumped 43% to $0.05 on Friday after resource junior announced that its Board and management team have been exploring multiple acquisition opportunities in the medical marijuana and CBD oil industry, and have been reviewing legislation in those US States that have approved the growing and sale of marijuana.

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As well, shares of Supremex Inc. (TSE:SXP) slipped 7% to $5.34 as the manufacturer of stock and custom envelopes and provider of packaging and specialty products said its Vice President of Finance will be stepping down effective November 18, 2016. The Company added that its Q3 revenue increased by 12.6% year-over-year to $36.5 million. It also approved a 9.1% increase to its quarterly dividend.

Sierra Wireless, Inc. (TSE:SW), meanwhile, reported better-than-expected third-quarter financial results, which saw its gross margin rise to 32.1% from 31.7%. Sierra Wireless stock moved up 15% to $19.23 following the announcement.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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