US Markets are closed today, due to Thanksgiving, but Canadian markets are moving right along. The number of trades going through is a bit lower than usual, but trade volume is hitting normal ranges. Today, cannabis penny stocks are up and down this morning after majorly rebounding yesterday.
Let's take a closer look at two cannabis penny stocks trending on the TSXV today and their latest company announcements.
Auxly Cannabis Group Inc. (TSXV:XLY)
Auxly Cannabis Group runs its operations out of Vancouver, British Columbia. Auxly is a cannabis streaming company that provides funding for cannabis production across Canada. The company was formerly known as Cannabis Wheaton Income Corp but changed its name to Auxly back in June of 2018.
The latest news released by Auxly wasn't about its company specifically, but more about good news from its strategic partners. On Tuesday, Auxly sent out a formal congratulations to its international partner ICC International Cannabis Corp (CSE:WRLD) for acquiring Green Gene Research Inc.
Hugo Alves, President and Director of Auxly, commented:
“ICC is making tremendous strides in aggregating all the components to create a vertically integrated global cannabis operation to the benefit of both Auxly and ICC. ICC had identified a key missing component of their platform in genetics and has successfully filled that void with the acquisition of Green Gene and its associated strain bank."
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According to Yahoo Finance, the cannabis penny stock is currently trading at $0.89 a share, down -$0.02 (-2.20%).
Canopy Rivers Inc. (TSXV:RIV)
Canopy Rivers is a cannabis-focused investment firm headquartered in Toronto, Ontario. This morning, the cannabis company announced that it has entered into an incremental funding agreement with its joint venture partner PharmHouse Inc. This new agreement fortifies the previous partnership that was made, putting Canopy in a better position in the commercial agriculture and produce space.
According to Yahoo Finance, Canopy is among a handful of cannabis penny stocks that are trading in the green this morning. At press time, RIV shares are trading at $3.94, up +$0.11 (+2.87%).
Featured Image: Depositphotos/© leungchopan
