That’s right, another big day for Vinergy Resources (VNNYF); hitting brand new weekly highs. This week’s action has definitely got our attention. We re-initiated coverage of this company on May 1, 2017, at $0.33 and in just four days we have already seen a record setting volume day TWICE and a steady 36% climb.
On May 4th, VNNYF made a new 4-day high of $0.45 on well-above-average volume. And the quick test of support could be just the slight consolidation many were waiting to see before another run for this marijuana stock.
To get up to speed on Vinergy’s MJBiopharma transaction, read this article to see what investors should know about the pending acquisition of MJ Biopharma:
As most of you already know, trading of Vinergy on the Canadian stock exchange under symbol VIN.CN has been halted pending a fundamental change in the company. It is our opinion and assumption that this ‘fundamental change’ could be the completion of the MJ Biopharma acquisition that the company mentioned months ago. We cannot be certain of this, but there is a lot of buzz circulating right now about this potential acquisition and the recent trading activity on the U.S. side in VNNYF. If you haven’t done so already, familiarize yourself with Vinergy Resources (VNNYF) and MJ Biopharma because if this acquisition is completed, the most informed investors will be in the best position.
Disclaimer: Pursuant to an agreement between MAPH and a non-affiliate third party, we were hired for a period of 1 month from 5/1/2017 – 6/1/2017 to publicly disseminate information about (VNNYF) including on the Website and other media including Facebook and Twitter. We are being paid $150,000 (CASH) for or “ZERO” shares of restricted or unrestricted common shares. We own zero shares of (VNNYF) which we purchased in the open market.We may buy or sell additional shares of (VNNYF) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.