Cannabis Watch: Affinor Growers and Namaste Technologies

Cannabis Watch

There are a few Canadian cannabis stocks on the rise today. Some are increasing around 5%, while others are soaring well above the 10% mark. That said, there are a few cannabis stocks moving into red territory today. Looking at today’s Canadian cannabis market, we are going to be investigating the following companies: Affinor Growers, who is seeing green, and Namaste Technologies, who is seeing red.

The Canadian Cannabis Market: What’s the Latest?

Affinor Growers (CNSX:AFI)

On Thursday, Affinor Growers announced that Urban Vertical Farms signed and accepted a term sheet for $6M in equity from Zygoz Equity Partners Inc. For those who don’t know, Urban Vertical Farms is Affinor Growers’ Exclusive license holder of Ontario. Reportedly, the agreement was signed yesterday. It’s not a total surprise to see Affinor trading higher on this type of news, as there is going to be a plethora of benefits to everyone involved. In fact, even CEO Urban Vertical Farms Jerry Stefaniuk stated that he is looking forward to working with Zygoz in commencing the search for vertical farming in the province of Ontario.

Now that the news is out, Affinor Growers is moving northward. Specifically, Affinor Growers is trading up $0.01, or 9.52%. The company has received 239 stock trades thus far.

Namaste Technologies (CNSX:N)

Meanwhile, Namaste Technologies is not doing as well. Known primarily for its medical marijuana delivery systems, Namaste Technologies has taken on the title of being the largest online retailer of medical marijuana delivery systems worldwide. That position, however, has yet to save the stock from dropping today.

Currently, the Toronto-based company is trading down 4.73%. There is no known reason for this decline of nearly 5%.  So far in the trading day, Namaste Technologies has received 832 stock trades. It will be interesting to see if today’s results were a one-off for Namaste Technologies and whether Affinor will continue to trade higher tomorrow.

Featured Image: geralt via Pixabay

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