There’s a lot going on in the world today, and the week has only just started. First, the U.S. West Coast and western Canada received tsunami alerts this morning after a 7.9 magnitude earthquake hit the Gulf of Alaska. The alert was eventually retracted, however. Then, the Nasdaq exchange opened significantly higher - actually, it opened to a new record high - after shares of Netflix (NASDAQ:NFLX) surged after reporting better-than-expected subscriber growth.
The public was also made aware on Tuesday that Anthony Noto, the COO of Twitter (NYSE:TWTR), is leaving his position to become the CEO of SoFi, an online finance company, and that Apple (NASDAQ:AAPL) plans to make its HomePod available to order this Friday.
Though all of the above mentioned is significant news, I can’t seem to take my eyes off of the CSE exchange, where you can see a number of popular cannabis stocks either increasing or decreasing.
Cannabis Stocks Today: Who’s Seeing Red and Who’s Seeing Green?
Two cannabis stocks on the CSE exchange today that are dropping include Golden Leaf Holdings (CSE:GLH) (OTCMKTS:GLDFF) and Global Hemp Group (CSE:GHG) (OTCMKTS:GLDFF).
Headquartered in Toronto, Golden Leaf Holdings is trading at $0.38, putting the GLH stock down $0.01, or 2.56%. Does this surprise me? Not overly, considering Golden Leaf Holdings has been plunging on the market for the past two weeks, even after increasing nearly 30% a few days before the world rang in 2018.
As for Global Hemp Group, this Vancouver-based cannabis company is the worst performing stock out of the two, currently trading at $0.26, which puts the stock down $0.03, or 8.93%. I think there's a strong chance the stock will be trading down 10% by the time the closing bell rings.
Similar to Golden Leaf, I’m not surprised Global Hemp Group is trading down today, considering it was only two weeks ago that the stock was trading down nearly 20%.
On the upside, there are still a few cannabis stocks on the CSE exchange that are doing reasonably well today, which adds to the optimism some investors feel towards the cannabis market and all that it is thought to accomplish in 2018.
First, we have Nutritional High International (CSE:EAT) (OTCMKTS:SPLIF), a company that was actually trading down nearly 15% last week. Hurray for a comeback! The Toronto-based company is trading at $0.78, which puts the stock up $0.07, or 9.86%.
Last but not least we have Cannabix Technology (CSE:BLO) (OTCMKTS:BLOZF), a Burnaby-based cannabis company. Cannabix Technology, like Nutritional High, is in the midst of making a comeback, considering it is trading up 16.42% today and was down 9.04% two weeks ago.
It will be interesting to see the direction that all 4 cannabis stocks head in throughout the rest of the week.
Check back in on Friday!
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