Cannabis stocks are rebounding across the board today! Candian cannabis penny stocks are all trading in the green on the TSXV today, as well as major cannabis stocks on the NYSE. Today, we’ll take a look at Canopy Growth and Aurora Cannabis stock shares.
Cannabis Stocks: Canopy Growth Corporation (NYSE:CGC)
Canopy Growth is headquartered in Smiths Falls, Ontario, and with its subsidiaries engages in growing, possession, and sale of medical cannabis in Canada.
Five days ago, Canopy Growth announced it had issued over 43,000 common shares. The announcement states:
“Canopy Growth Corporation issued 43,517 common in the Corporation to acquire certain brand licensing rights for product formats anticipated to be included in the next wave of legal regulated cannabis products for human and animal consumption.”
Despite no recent news published by the cannabis company, its shares are booming on the NYSE today. According to Yahoo Finance, CGC is currently trading at $36.35 a share, up +$2.38 (+7.01%).
Cannabis Stocks: Aurora Cannabis Inc. (NYSE:ACB)
Aurora Cannabis is based out of Edmonton, Alberta, and produces and distributes medical cannabis products in Canada. The cannabis company holds major partnerships with large pharmacies across Canada that specifically sells its cannabis products. The biggest of its pharmacy partnerships is with Shoppers Drug Mart.
Aurora went live on the NYSE just over a week ago, but stock has fallen despite its major listing. Just after its big debut, Aurora announced that the Polish Ministry of Health granted its approval for the first shipment of medical cannabis to Poland. This announcement is an important milestone for the country, as Aurora is believed to be the first non-government-run business that has been granted approval to supply medical cannabis products within the European country.
“Becoming the first company to supply cannabis to Poland is validation of Aurora’s ability to do business in international markets with high barriers to entry,” said Chief Global Business Development Officer at Aurora, Neil Belot.
According to Yahoo Finance, ACB stock is currently trading at $6.48 a share, up +$0.39 (+6.40%).
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