Recreational cannabis is just five days away from being nationally legalized across Canada. The past week, Canadian cannabis stocks and Canadian cannabis penny stocks have been mostly in the red on Canadian exchanges.
Many analysts anticipated a ramp-up in cannabis stocks ahead of legalization, and their predictions were looking quite grim, until now. Canadian cannabis companies are all trending high on both the TSX and TSXV.
Let's take a closer look at a few of these Canadian cannabis penny stocks trending high today.
Namaste Technologies Inc. (TSXV:N)
Namaste Technologies is a cannabis e-commerce company and has been sliding on the market since September 24th. The Canadian cannabis company made an official public statement about false accusations three days ago, but there have not been any new developments since.
Currently, Namaste is seeing the most trades on the TSXV this morning. According to Yahoo Finance, the cannabis penny stock is currently trading at $2.22 a share, up $0.11 (+5.21%).
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Aleafia Health Inc. (TSXV:ALEF)
Aleafia Health is headquartered in Concord, Ontario, and operates as a medical cannabis consultation service. The past five days, shares of ALEF have backslid, but today shares have rebounded.
The last company news released by Aleafia was three days ago, highlighting a 60,000 kg outdoor grow expansion. It must be just an industry trend that is pushing these cannabis penny stocks up today.
According to Yahoo Finance, the Canadian cannabis penny stock is currently trading at $2.36 a share, up $0.09 (+3.96%).
Auxly Cannabis Group Inc. (TSXV:XLY)
Auxly is headquartered in Vancouver, BC, and operates as a cannabis streaming company. It provides funding for cannabis products.
Auxly hasn't released any company news in over three weeks. Its stock shot up in price 11% on October 9th and has remained above $1.15 all week. According to Yahoo Finance, the cannabis penny stock is currently trading at $1.19 a share, up $0.03 (+2.59%).
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