Cannabis has been trending on both the Canadian and US markets for the past year now. In 2017, blockchain companies saw a spike in trade volumes daily, but the blockchain fad has since faded. Now, cannabis stocks and cannabis penny stocks are reigning on trade volume and number of trades.
Canada will legalize recreational adult-use cannabis in just over a week, and this morning, a few Canadian cannabis companies are moving positively on the TSXV.
Let's take a closer look at them.
Cannabis Penny Stocks: Eve & Co. Incorporated (TSXV:EVE)
Eve & Co is headquartered in Strathroy, Ontario, and through its subsidiaries produces and sells cannabis plants, seeds, and dried cannabis. The company focuses on the distribution of recreational cannabis under its EVE brand.
The recreational marijuana company hasn't had any new news in a week, but its spike in price might be a run-up to the launch of legalized recreational cannabis in Canada next week. Eve & Co is newly listed on the TSXV and completed its $20.8 million private placement last quarter.
According to Yahoo Finance, the cannabis penny stock is trading at $0.485 a share, up $0.035 (+7.78%).
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Cannabis Penny Stocks: Aleafia Health Inc. (TSXV:ALEF)
Aleafia Health Inc. runs its operations in Concord, Ontario.
The company operates vertically as a cannabis company in Canada and provides medical consultation services for patients dealing with Chronic pain and disabling illnesses. The cannabis penny stock operates a medicinal cannabis clinic network under the Canabo Medical Clinic brand.
Just this morning, Aleafia announced it just secured a 60,000 kg low-cost outdoor grow expansion at its Port Perry cultivation facility.
“Aleafia is once again positioning itself as an innovative leader in the cannabis industry,” said Aleafia Chairman Julian Fantino. “Secure outdoor cultivation will see Aleafia produce cannabis at among the lowest cost per gram rates in the industry, when compared to traditional greenhouse cultivation.”
According to Yahoo Finance, the cannabis penny stock is trading at $3.37 a share, up $0.37 (+12.33%).
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