Cannabis penny stocks are all trading green today, finally! Yesterday was a rough day on both the major US and Canadian markets after many major US companies started dropping rapidly. Major markets have been on the fritz the past month and a half, which has not helped the cannabis industry.
Today, we'll take a closer look at two cannabis penny stocks trending on the TSXV and their latest movements.
Emerald Health Therapeutics, Inc. (TSXV:EMH)
Emerald Health Therapeutics, together with its subsidiaries, produces and sells medical cannabis across Canada. The company was formerly a pharmaceutical company named T-Bird Pharma Inc. but changed direction and its name in June of 2015. Emerald Health operates out of Victoria, British Columbia.
Two days ago, the cannabis company announced that they just received approval from the TSX Venture Exchange for its 51:49 joint venture with Emerald Health Bioceuticals (EHB). EHB will now be called Emerald Health Naturals (EHN). The cannabis penny stock will also invest $5 million for 51% equity of EHN.
According to Yahoo Finance, Emerald Health is among the top traded stocks on the TSXV today. At press time, EMH is trading at $3.82 a share, up +$0.26 (+7.30%).
Aleafia Health Inc. (TSXV:ALEF)
Aleafia Health is a vertically integrated cannabis company that operates out of Concord, Ontario. Aleafia provides patients with medical consultation services to potentially deem them eligible to receive medical cannabis for the treatment of chronic pain.
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This morning, the cannabis penny stock announced it has completed the final forms of its definitive joint venture with Serruya Private Equity. Both parties will launch a Canada-wide cannabis retail joint venture. Serruya also announced it will make a $10 million strategic investment in Aleafia.
“Aleafia is now well positioned to produce commercially proven international cannabis brands for our national cannabis retail network along with provincial distributors,” said Aleafia Chief Executive Officer Geoffrey Benic. “In launching adult-use cannabis operations, we will greatly benefit from working with and receiving Serruya’s substantial financial backing. These transactions will see Aleafia immediately assume a leadership role in adult-use cannabis production, supply and retailing, complementing our proven medical cannabis operations.”
According to Yahoo Finance, the cannabis penny stock is currently trading at $2.10 a share, up +$0.08 (+3.96%).
Featured Image: Depositphotos/© jukai5
