Cannabis stocks and cannabis penny stocks have slightly corrected today. The past two weeks, most cannabis stocks on the US and Canadian markets have been on a bull run stretch, but it seems that has come to a halt today. Not all cannabis penny stocks are down today, though; Emerald Health Therapeutics (TSXV:EMH) is trading green and is currently leading in trades on the TSXV.
Let’s take a closer look at Emerald Health and a few other Canadian cannabis penny stocks today.
Emerald Health Therapeutics (TSXV:EMH)
Emerald Health Therapeutics operates out of Victoria, BC, and with its subsidiaries produces and sells medical cannabis in Canada.
Yesterday, the cannabis penny stock announced it had completed its first shipments of adult-use cannabis to British Columbia and Newfoundland and Labrador. This announcement is an important milestone for the company as it showcases that it has significantly ramped up its production.
Emerald’s cannabis products have been available in these provinces since October 31st.
“It has always been important to us to ensure we fulfill the supply commitments we made to our provincial cannabis distribution customers. We are pleased that our initial deliveries have met this obligation and that we have the ability to provide consistent and increasing contracted shipments of Emerald products,” said Paul Dillman, Emerald’s Executive VP, Global Sales & Marketing. “With proprietary market research, differentiated products based on unique plant genetics, a recognizable, trusted brand, significant marketing expertise and bandwidth, and a growing sales team across Canada, we are aiming for a significant ramp-up in sales every quarter from these initial deliveries forward.”
This announcement is likely the cause behind EMH stock being up today, despite a red cannabis market overall. Emerald’s products are now available in-store and online in BC, as well as in Newfoundland and Labrador.
According to Yahoo Finance, EMH shares are trading at $5.22 a share, up +$0.14 (+2.76%), which actually puts Emerald just above the penny stock range—how long will that last?
Aleafia Health Inc. (TSXV:ALEF)
Aleafia Health is currently the second-most traded stock on the TSXV today by daily trades. According to Yahoo Finance, the cannabis penny stock is trading at $2.43 a share, down -$0.15 (-5.81%).
Namaste Technologies Inc. (TSXV:N)
Namaste Technologies is the fourth-most traded cannabis penny stock on the TSXV today by daily trades. According to Yahoo Finance, N stock is currently trading at $1.90 a share, down -$0.07 (-3.55%).
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