It has been a rough week for cannabis stocks. If you’re an investor looking to get your hands on a few cannabis stocks, the current market may look a bit grim. Have no fear! 48North Cannabis Corp (TSXV:NRTH) (OTC:NCNNF) and Choom Holdings Inc. (CSE:CHOO) (OTCQB:CHOOF) might be an option.
These cannabis stocks are shining green today in a sea of red. What’s making these two companies stand out from the rest today? Let’s find out!
48North Cannabis Stock up +13%
NRTH is a hot cannabis stock on the TSXV today. Most of the major cannabis companies that trade on the TSX Venture Exchange are all seeing significant losses. Yesterday, 48North announced an exclusive licensing agreement with Arbor Pacific Inc.
Arbor Pacific is based in the US and holds its Avitas brand. Avitas is one of the best-selling single strain vaporizing cartridges in the US and now will be available to Canadian customers through 48North. Currently, Abitas cartridges are sold in over 500 stores in Colorado, Oregon, and Washington.
It seems investors are excited about this partnership because the cannabis stock is continuing to rise as the day progresses. This partnership is still pending Health Canada approval.
According to Yahoo Finance, NRTH is trading at $1.44 a share, up +$0.17 (+13.39%). On the OTC, the cannabis stock is trading at $1.06 a share, up +$0.11 (+11.58%). If you’re looking for hot cannabis stocks to watch, NRTH and NCNNF should be on your list!
Choom Holdings Dominates the CSE
Like 48North, Choom Holdings is dominating the cannabis stocks on its respective market. Vancouver, British Columbia-based Choom announced a retail development strategy update this morning that has investors interested.
Choom’s update details the achieved number of growth initiatives it had in place. Since June of 2018, the cannabis company has completed the buildout of 17 retail locations in Western Canada and has eight currently under construction. Choom focuses specifically on retail stores and features a curated selection of products from various licensed producers.
Investors seem impressed with the company’s movement, as CHOO is currently trading at $0.54 a share, up +0.04 (+8.00%). The cannabis stock is trading at $0.39 a share, up +$0.02 (+5.68%) on the OTC at the time of writing.
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