The same could be said about the Industrial Hemp Farming Act of 2015, which was introduced in Senate on the same day. The bill has bi-partisan support, and should it pass, industrial hemp cultivation and production would be legal nationwide.
Some people on investor forums have suggested CANV's sudden move up has to do with insider buying. They seem to base that on a Form 4 from Jan 13. This explanation would better fit the timing, since CANV closed up on the 14th too, albeit for a more moderate gain. However, investors should be certain they fully understand what the form says before making decisions.
One of the transactions took place on October 1, 2014. and the explanation below makes it clear that Mr. Mona didn't actually pay $705 thousand for the 250 thousand shares, instead "The consideration paid for the shares was services previously provided to the Issuer by Mr. Mona, valued at $705,000, as of October 1, 2014." Which also means the shares weren't bought in the open market.
Neither were the other 250 thousand shares, Mr. Mona acquired, as the transaction date is Jan 1 – not a trading day. That doesn't mean the transactions don't represent insider buying, but statements like "CANV CEO buying up shares!" might be somewhat out of place.
Whatever the reason for the surge, it should be interesting to watch. In early trading today, CANV is moving up now close to $3.75 per share.