Cannabis stocks enjoyed a powerful rally, with about 71% of the group advancing. There were 15 double-digit percentage gainers and only 4 double-digit percentage losers. Stocks with volume above the 30-day average jumped to 50%, with 13 stocks trading over $5mm in value.

Easton Pharma (EAPH) ended a protracted downturn following the release of details about a partnership, bouncing strongly off of the 50-dma on a large increase in volume. Terra Tech (TRTC) soared into "dollar land" for the first time, with volume jumping sharply. Cannabis Science (CBIS) also rose after recently testing its 50dma as volume picked up. Growlife (PHOT) advanced to a new high, clearing its January peak on heavy volume. GW Pharma (GWPH), the most active name in dollar volume, ramped up to new highs following a bullish initiation in research coverage by Bank of America ($93) target price and continued ancitipation regarding this evening's "Weed 2" with CNN's Sanjay Gupta.

Stevia (STEV) plunged on increased volume after enduring a sharp reversal on Monday, with the stock losing half its value from the peak level Monday but still up substantially in March. mCig (MCIG) also continued to correct after having recently traded as high as $0.81. Aero Grow (AERO) sold off for the second straight day, with above-average but somewhat lower volume. Creative Edge Nutrition (FITX) declined again as below-average volume expanded slightly.

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