Cannabis penny stocks are mostly all trading red this morning. This sector of stocks have been green for much of the week, and it remains unclear why the correction has occurred. Today, let's take a closer look at a few cannabis penny stocks trending on the TSXV.
Emerald Health Therapeutics (TSXV:EMH)
Emerald Health Therapeutics is headquartered in Victoria, British Columbia. Together with its subsidiaries, the cannabis penny stock produces and sells medical cannabis in Canada.
Nine days ago, Emerald Health announced that it had completed its first shipments of adult-use cannabis to British Columbia and to Newfoundland and Labrador.
“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 and Marketing.
According to Yahoo Finance, the cannabis penny stock is trading at $4.01 a share, down -$0.14 (-3.37%).
Aleafia Health Inc. (TSXV:ALEF)
Aleafia Health is headquartered in Concord, Ontario, and operates as a vertically integrated cannabis company. On Wednesday, Aleafia announced that it has entered into a global agreement with D2L Corporation. The cannabis penny stock will launch D2L's Learning Management System (LMS) Brightspace.
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Brightspace is a cloud-based learning platform that has been employed by major organizations like Walmart in the past.
“D2L’s undisputed position as a global leader in online learning, with operations in the U.S., Canada, Europe, Singapore, Brazil, and Australia makes them the right strategic partner as we grow and scale our cannabis health and wellness business in North America and beyond,” said Aleafia CEO Geoffrey Benic. “Aleafia Health is excited to deploy our unique cannabis expertise.”
According to Yahoo Finance, the cannabis penny stock is currently trading at $2.06 a share, down -$0.08 (-3.74%).
Featured Image: Depositphotos/© leungchopan
