Cannabis stocks did relatively well on the Canadian Securities Exchange today, with the exception of Golden Leaf Holdings. The markets are now closed, so we're going to take a look at two cannabis stocks that ended the trading day in the green. Keep in mind these stocks did not announce anything today, they simply just moved into the green zone.
Cannabis Stocks on the Canadian Cannabis Market
1. Global Cannabis Applications (CNSX:APP)
Global Cannabis ended the day trading at $0.27. This put the cannabis stock up $0.015, or 5.88%. The Vancouver-based company has a current market cap of less than 16 billion. There is no direct news that would explain today's jump, but it is likely that the marketplace was still on a bit of a high from yesterday's announcement. On Wednesday, Global Cannabis announced that it will make a keynote address in Toronto this weekend at the 7th Annual InvestorIntel Summit.
2. Canntab Therapeutics (CNSX:PILL)
Founded in 2016, Canntab Therapeutics claims it is a company that puts the "'medical' into medicinal cannabis." The cannabis stock ended the day trading at $0.90. This put Canntab Therapeutics up $0.11, or 13.92%. Similar to Global Cannabis, there is no direct explanation for why the stock ended the day up nearly 15%. It is doubtful investors are complaining, though.
3. Quadron Cannatech Corporation (CNSX:QCC)
Headquartered in Vancouver, and founded in 2011, Quadron Cannatech ended Thursday trading at $0.28. This put the stock up $0.015, or 5.66%. On this day last month, Quadron posted its third quarter financial results. Since then, the company has remained relatively quiet.
The Takeaway
It is surprising to see these three cannabis stocks trading up on no news, but it is definitely not a bad thing. What do you think? It's worth noting, as mentioned briefly, that not every cannabis stock succeeded today. In fact, Golden Leaf Holdings (CNSX:GL) ended the day down nearly 6%, as did Namaste Technologies (CVE:N).
Featured Image: Free-Photos via Pixabay
