Cannabis stocks took a beating yesterday after investor sell-off ran rampant in the emerging space on public markets. Aurora Cannabis (NYSE:ACB), one of Canada's largest cannabis companies, went live on the New York Stock Exchange but the stock dropped dramatically upon its debut.
However, there was one cannabis penny stock that closed the day in the green, and that was Liberty Health Sciences Inc (CSE:LHS).
Cannabis Stocks: Liberty Health Sciences
Liberty Health Sciences is headquartered in Toronto, Ontario, and engages in the production and distribution of medical cannabis, primarily in the State of Florida.
Just this morning, the cannabis stock announced that it would open three new dispensaries in Central Florida. Liberty Health calls them Cannabis Education Center (CEC) dispensaries. The new dispensaries are located in Merritt Island, FL; Winter Haven, FL; and Palm Harbor, FL. Each will feature free 24-hour delivery service throughout the state.
Currently, the Palm Harbour and Merrit locations are subject to DOH approval.
George Scorsis, CEO of Liberty Health Sciences, said:
"We are laser focused on creating the best operation for future growth and our strategy of being the best provider in one of the largest states in the U.S. Every day in our stores people are thrilled to be able to get access to quality products and feel welcomed in our dispensaries. We have a consistent goal to be the best provider of cannabis in the U.S. through our relentless pursuit of providing the best customer experience and we are there to help guide them on their cannabis journey."
Stock Movement
Some market analysts anticipated that cannabis stocks would rise ahead of Canadian legalization, which they did, but nobody anticipated the sharp sell-offs that have occurred this past week.
According to Yahoo Finance, Liberty Health Sciences closed yesterday's market at $1.26 a share, up +$0.01 (+0.80%). This morning, the cannabis stock is currently trading at $1.31 a share, up +$0.05 (+3.97%).
Featured Image: Depositphotos/© denisismagilov
