Recreational adult-use cannabis will be nationally legalized across Canada in just two days. Canadian cannabis penny stocks were all expected by analysts to see a price ramp up before legalization, and that currently seems to be the case.
The past month, however, these Canadian cannabis companies have been trading lower than anticipated. It seems investors are waiting until the last minute to get their hands in the market.
Let’s take a closer look at the Canadian cannabis penny stocks trending on the TSXV today.
Namaste Technologies Inc (TSXV:N)
Namaste Technologies is based out of Vancouver, BC, and operates as a cannabis e-commerce company. Currently, the cannabis penny stock is seeing the most trade volume on the TSXV today.
Namaste hasn’t had any recent company news in a week.
According to Yahoo Finance, N is currently trading at $2.53 a share, up +$0.24 (+10.48%).
Auxly Cannabis Group Inc (TSXV:XLY)
Auxly Cannabis Group is located in Vancouver, BC, and operates as a cannabis streaming business, providing funding for cannabis products.
The company also hasn’t released any company updates in a week. According to Yahoo Finance, the cannabis penny stock is currently trading at $1.27 a share, up +$0.09 (+7.63%).
Aleafia Health Inc. (TSXV:ALEF)
Aleafia Health is headquartered in Concord, Ontario, and operates as an integrated cannabis company across Canada. Aleafia provides medical consultation services to determine a patient’s suitability for medical cannabis.
Like the other cannabis penny stocks, Aleafia has yet to have any recent company news—the stock movement is most likely due to ramping up for Canadian legalization.
According to Yahoo Finance, ALEF shares are currently trading at $2.44 a share, up +$0.09 (3.83%).
Other Canadian Cannabis Penny Stocks Trending
The Supreme Cannabis Company (TSXV:FIRE): $2.16 a share, up +$0.08 (+3.85%).
Emerald Health Therapeutics (TSXV:EMH): $5.01 a share, up +$0.10 (+2.04%).
Vivo Cannabis (TSXV:VIVO): $1.40 a share, up +$0.07 (+5.26%).
WeedMD (TSXV:WMD): $2.01 a share, up +$0.06 (+3.08%).
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