Cannabis penny stocks have been trending on the Canadian stock exchanges for the past few months. Investors in both the US and Canada have been trying to get their hands on the cannabis market.
Canada will nationally legalize recreational marijuana in just three weeks, and trade volumes for Canadian cannabis stocks are hitting close to all-time highs.
Cannabis penny stocks are trending and in the green on the TSXV this morning. Let's take a closer look at these cannabis stocks and their latest movements.
Namaste Technologies Inc. (TSXV:N)
Namaste Technologies is based out of Vancouver, BC, and through its subsidiaries operates as a cannabis e-commerce company.
Two days ago, Namaste announced its supply agreement with RMMI Corp (CSE:RMMI). Surprisingly, the stock continued its weekly downtrend despite the positive news.
However, the stock has begun to rebound today without any new company news. According to Yahoo Finance, N is currently trading at $2.64 a share, up $0.16 (+6.45%). For the month, the cannabis penny stock is up nearly 50%, and year-to-date, N shares are up 73.68%.
Emerald Health Therapeutics Inc (TSXV:EMH)
Emerald Health Therapeutics is based in Victoria, BC, and with its subsidiaries, it produces and sells medical cannabis across all of Canada.
Two days ago, the cannabis penny stock announced that it had secured a long-term supply of Hemp through Emerald Health Hemp Inc. Emerald's stock has been on the decline this week, despite the positive news but today, the penny stock jumped up nearly 10%.
According to Yahoo Finance, EMH is currently trading at $4.65 a share, up $0.27 (6.16%). For the month, the cannabis penny stock is up 18.02%, and year-to-date, EMH is down -29%.
>> Ontario Releases Progressive Recreational Cannabis Rules
The Supreme Cannabis Company (TSXV:FIRE)
The Supreme Cannabis Company is based out of Toronto, Ontario, and operates as a development stage company that engages in the production of medical cannabis across Canada. Originally, the company focused on pharmaceuticals but shifted its focus to cannabis in December of 2017.
Almost 24 hours ago, the cannabis penny stock announced that it had closed an agreement with a syndicate of underwriters. These underwriters agreed to purchase the $90,000,000 aggregate principal amount of Supreme's convertible debentures.
This Canadian cannabis stock has seen semi-stagnant movement this week but has seen a slight boost from its recent announcements. According to Yahoo Finance, Supreme Cannabis stock is trading at $2.27 a share, up $0.08 (3.65%). The penny stock is down -$0.43% this week, but is up 29.7% for the month.
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Featured Image: Depositphotos/© nito103
