Cannabis Penny Stocks Seeing Green Today!

penny stocks

Cannabis stocks and cannabis penny stocks have been trending high this past week and a half. Another major Canadian cannabis company was listed on the New York Stock Exchange last week, which helped push up investors' confidence in cannabis.

Today, we'll take a closer look at the cannabis penny stocks trending on the TSXV today and their latest movements.

Cannabis Penny Stocks: Auxly Cannabis Group Inc. (TSXV:XLY)

Auxly Cannabis Group operates as a cannabis streaming company that is headquartered in Vancouver, BC. This morning, Auxly Cannabis remains one of the top trading stock on the TSXV by its trade volume.

Five days ago, the cannabis penny stock announced that it had received approval from the Secretaria Nacional para la Lucha contra el Lavado de Activos y el Financiamento del Terrorismo (SENACLAFT). The SENACLAFT is the government body that oversees direct investing in Uruguay. Auxly acquired 80% of the issued, and outstanding shares of Inverell S.S. Inverell is a federally licensed cannabis operator in Uruguay. 

This acquisition further advances Auxly's stance in South America.

According to Yahoo Finance, the cannabis penny stock is trading at $1.13 a share, up +$0.08 (+7.62%).

Cannabis Penny Stocks: Namaste Technologies Inc. (TSXV:N)

Namaste Technologies is also headquartered in Vancouver, BC, and operates as a cannabis e-commerce company. Five days ago, the cannabis stock announced that its company's wholly owned subsidiary, Cannmart Inc. has signed a production acquisition agreement with Custom Cannabis Inc.

>> Cannabis Stocks: Aphria Falls, While Canopy Growth and Aurora Cannabis Rise on the NYSE Today

Jeff Nielsen, CEO of Custom Cannabis, said:

"From seed to extraction, everything we do considers the needs of patients who rely on finely-crafted medical strains for the treatment of their conditions. We're excited to know that patients seeking medical cannabis crafted by expert growers can access the Custom Cannabis brand in a digital marketplace that aligns with our patient-first philosophy. We're pleased to have reached this Agreement with Namaste."

According to Yahoo Finance, N stock is currently trading at $1.95 a share, up +$0.13 (+7.14%).

The penny stocks trending on the TSXV today haven't had any company announcements in a week. Despite this, investor confidence remains high in cannabis, as almost all cannabis penny stocks on the Canadian exchange are trending green.

Featured Image: Depositphotos/© oleschwander

If You Liked This Article Click To Share