Cannabis penny stocks are up and down this morning to start off the work week. Aleafia Health has been on a steady incline the past five days, and this morning its stock shot up again. WeedMD is another trending ticker of the day.
Today, we'll take a closer look at these stocks and their latest movements on the TSXV.
Cannabis Penny Stocks: Aleafia Health Inc. (TSXV:ALEF)
Aleafia Health is headquartered in Concord, Ontario, and operates as a vertically integrated cannabis company in Canada. The cannabis company provides patients with medical consultation services to see if they are a candidate for medical cannabis.
This morning, the cannabis stock shot up nearly 9 percent. Aleafia's lastest company news was released three days ago, and it was centered around its expansion to Australia. Aleafia announced that it has partnered with CannaPacific Pty Ltd.
“We are extremely pleased to collaborate with CannaPacific, a company with the team in place to quickly capture market share in Australia,” said Aleafia CEO Geoffrey Benic. “This transaction, once completed, will place Aleafia at the epicentre of what we expect will be a major growth centre in the global medical cannabis market.”
It remains unknown at this time if this announcement is what pushed up investor confidence. Aleafia is currently the top traded cannabis stock on the TSXV today.
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According to Yahoo Finance, the cannabis penny stock is trading at $2.88 a share, up +$0.20 (+7.46%).
Cannabis Penny Stocks: WeedMD Inc. (TSXV:WMD)
WeedMD is headquartered in Aylmer, Ontario, and produces and sells medical marijuana. The cannabis company is also among the top trading cannabis stocks on the TSXV today.
Five days ago, WeedMD announced a new multi-year retail sales distribution deal with Lifford Cannabis Solutions.
“With the onset of legalization, WeedMD’s products are garnering the attention of a discerning and knowledgeable cannabis audience. Lifford has a history of delivering great results in the alcohol beverage category and has developed strong relationships with the provincial distributors as well as key customers,” said Brett Moon, SVP, Sales and Marketing at WeedMD.
According to Yahoo Finance, WMD is currently trading at $1.58 a share, up +$0.12 (+8.22%).
Featured Image: Depositphotos/© leungchopan
