Cannabis penny stocks are up and down this morning on Canadian markets. Most major cannabis stocks are trading green on the TSX currently, which could potentially flip the smaller cannabis stocks green.
Today, we'll take a closer look at two cannabis penny stocks trending!
Hempco Food and Fiber Inc. (TSXV:HEMP)
Hempco Food and Fiber has had a phenomenal December so far. The British Columbia-based hemp company got a substantial boost last week from the 2018 Hemp Bill news. This morning, the cannabis penny stock continues to climb. President Trump is expected to sign the bill sometime before the end of 2018, which will allow farmers across the US to farm hemp.
Hempco Food and Fiber is a subsidiary of Aurora Cannabis (TSX:ACB) (NYSE:ACB). A week ago, the hemp-based company debuted its five-pronged strategy to investors, to showcase its plan to boost its presence in the hemp industry in Canada moving forward.
"We believe that a united effort by all Canadian stakeholders in the hemp industry, will result in sustained growth," said Diane Jang, CEO of Hempco Food and Fiber. "As one of the leaders in the Canadian hemp industry, we believe that we have the team, infrastructure, networks and assets to successfully execute on our strategy, strengthen our competitive position on the global market and support the Canadian hemp industry."
According to Yahoo Finance, HEMP is currently trading at $1.45 a share, up +$0.06 (+4.32%). It remains one of the top cannabis penny stocks on the TSXV this morning.
>> 2018 Hemp Bill Passed by Congress
The Flowr Corporation (TSXV:FLWR)
Another cannabis penny stock trending this morning is The Flowr Corporation. The cannabis company is based out of Markham, Ontario, and it cultivates and produces medicinal cannabis in Canada. Last week its stock saw exponential growth.
Recently, the company began shifting its executive positions and has hired a president and three independent directors.
At the time of writing, FLWR is currently trading at $3.45 a share, up +$0.11 (+3.29%). With its growth recently, The Flowr Corporation has made our list of cannabis penny stocks to watch.
Featured Image: Depositphotos/© g0d4ather
