Cannabis Penny Stocks: Namaste Technologies and Auxly Cannabis

penny stocks

Cannabis companies and cannabis stocks have made a strong global presence in 2018 and have proven to the world they're here to stay. As cannabis continues to expand, investors are diligently searching for the cannabis company that will bring them the greatest return. Today, we'll take a closer look at a few cannabis penny stocks to keep an eye on as 2019 closes in.

Namaste Technologies, Inc. (TSXV:N)

Namaste Technologies is a cannabis e-commerce company that has dominated the TSXV for most of 2018. This is why the stock has made our cannabis penny stocks to watch list. Year-to-date, N shares are down, but that shouldn't take away from the progress the Canadian cannabis penny stock has made this year.

A press released dated back to October 30th reads:

"For the twelve months ended August 31, 2018, Namaste showed an impressive growth of 364% in the Canadian market, 261% in Germany, 188% in Brazil, 98% in Australia, 45% in the United Kingdom. These changes are consistent with Namaste's long terms business strategy to expand in European and emerging markets with an increased focus in the Canadian market."

While its revenue hasn't increased from 2017, the countries in which it makes its money has. Namaste Technologies is focusing its efforts on the UK, as it sees a much bigger potential for growth than its current Canadian market. Its wholly-owned subsidiary Cannmart has also grown substantially in 2018 and will continue to bring in substantial revenue for Namaste in 2019.

According to Yahoo Finance, the cannabis penny stock is currently trading at $1.32 a share, up $0.08 (+6.45%).

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Auxly Cannabis Group Inc. (TSXV:XLY)

Auxly Cannabis is a cannabis financing and streaming company headquartered out of Vancouver, BC. The company was formerly named Cannabis Wheaton Incom Corp but changed its name back in June of 2018. 

This year, Auxly has evolved into a global cannabis company with assets in each key segment of the cannabis value chain. In 2018, the cannabis penny stock signed major deals with FSD Pharma Inc (CSE:HUGE), Aphria Inc (NYSE:APHA), and Delta 9 Cannabis (TSXV:NINE). The company has divided into three distinct verticles, with the number of deals the company has on the table. Management has prioritized each of these deals into a segment. The business segments are named upstream, midstream, and downstream. 

With the company's rapid expansion, it's good to know management is on top of prioritizing. 

According to Yahoo Finance, XLY stock is currently trading at $0.87 a share, up +$0.03 (+3.57%).

Featured Image: Depositphotos/© yuliang11

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