Cannabis Penny Stocks: Namaste Technologies and Cannabix Technologies Soar

penny stocks

Cannabis stocks and cannabis penny stocks are rebounding today after down-sliding for most of the beginning of the week. Both Namaste Technologies (TSXV:N) and Cannabix Technologies (CSE:BLO) are both trading high on their Canadian exchanges today.

Let's take a closer look at these penny stocks and their latest company announcements.

Namaste Technologies

Namaste Technologies operates as a cannabis e-commerce company that is headquartered in Vancouver, BC. Last week, the cannabis company announced that it has acquired over 28,000 registered users through NamasteMD Inc. The company also announced that the Uppy Strain Journal has been downloaded over 23,000 times. 

Sean Dollinger, President and CEO of Namaste, said:

"We're proud to be at the point where we can have someone place an order within an hour of being seen by a nurse practitioner, which we believe to be the best turn-around time in the industry. Our goal is to streamline the process of acquiring medical documentation and accessing medical cannabis through an online marketplace and in offering the best user experience possible. We're looking forward to launching same-day delivery with Pineapple Express and on continued growth."

According to Yahoo Finance, the cannabis penny stock is currently trading at $1.59 a share, up +$0.15 (+10.42%).

>> Green Growth Brands: Canada's Latest CSE Listing

Cannabix Technologies 

Cannabix Technologies is a technology company that is headquartered in Burnaby, BC. The penny stock develops marijuana breathalyzers for law enforcement and businesses in North America.

This morning, Cannabix announced a new update regarding its breathalyzer. The cannabis penny stock stated that it has engaged a leading BC-based engineering and design firm for the development of a handheld breath collection device for its unit. MistyWest Engineering has begun to work on this device, which will provide easy-to-collect breath samples at the point of care.

This announcement has caused the penny stock to skyrocket today on the CSE. According to Yahoo Finance, BLO shares are currently trading at $1.76, up +$0.21 (+13.55%).

Featured Image: Depositphotos/© Gorodenkoff

If You Liked This Article Click To Share