8% fall in GW Pharma is buy back opportunity

I have just bought back the GW Pharma position sold on Monday given the current 10p drop in the share price, presumably on a market maker "tree shake" prior to the AGM.

GW Pharma falls ahead of AGM

GW Pharmaceuticals (GWP) Annual General Meeting is being held today at 11am. The shares are currently down 4p to 119p to sell after slipping significanly in the final hours of trading yesterday. I have been selling down some of my holding over the last 2 days following the news on Sativex UK/Spain registration and the Phase IIb cancer study,  meaning my position has been reduced by around two-thirds. I am continuing to hold a core position and may look to top up on any weakness but given the interim results are not due until May when further may be forthcoming on the Sativex approval process in Europe, these shares may drift a little unless a major new institution comes on board. A buy back point below 120 p looks enticing.

GW Pharma continues upward momentum

GW Pharma (GWP) is currently up nearly 6% without any evidence that big buys are coming through for the company.  Momentum is certainly positive with the regulatory announcement last week on the progress of the European Sativex application. A  move over 130p seems feasible during the week and closer to 150p on final approval in May. Of course, an institutional buy of any size would accelerate matters as trading seems to be focused on private investors for now. Perhaps those boys in the City just fall asleep when it comes to decentralised applications, mutual recognitions and the like?!