Marijuana penny stocks are up and down again today, despite the positive share movement from the big cannabis players. Usually, when investors are buying up shares of big cannabis companies, they often indulge in smaller penny stocks as well. That doesn't seem to be the case this week. However, most are on the upswing and could all trade green before the day is through.
Today, we'll take a look at two marijuana penny stocks that started out green this morning.
Medical Marijuana Inc. (OTC:MJNA)
Medical Marijuana is an investment holding company headquartered in Poway, California. The company operates in the medical marijuana and hemp market in the US. Medical Marijuana claims it is the first-ever publically traded cannabis company in the US. The company was formerly known as Hemp Deposit Distribution Corp but changed its name in March of 2011. Medical Marijuana was incorporated back in 2003.
This morning the marijuana penny stock announced that its subsidiary, HempMeds, just released its newest CBD product. Real Scientific Hemp Oil (RSHO) Maximum Strength is the company's newest and most potent full-spectrum hemp product.
"We developed Real Scientific Hemp Oil Maximum Strength because of our promise to continuously evolve and lead the industry with quality and innovation," said Todd Morrow, HempMeds President. "This product brings consumers a new level of full spectrum concentration to assist those who can benefit most from a higher concentration oral applicator product."
MJNA isn't seeing high gains on the market currently, but it is still trading up. At press time, the marijuana penny stock is trading on the OTC at $0.0825 a share, up +$0.0007 (+0.86%).
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WeedMD Inc. (TSXV:WMD)
This morning, WeedMD is among the top trending marijuana penny stocks trading on the TSXV. The medical marijuana company announced major company news this morning, which has most likely caused the spike in its share prices.
WeedMD and BLOCKStrain (TSXV:DNAX) announced this morning that they have collectively completed the first cannabis strain validation registration program. This process tests and verifies cannabis strains, to make sure companies are selling what they say they are selling to patients.
"For years, consumers have been purchasing cannabis products with very little information on what exactly is being purchased, but they can now trace strain origin and their CBD/THC content, along with all other pertinent information," said BLOCKStrain CEO Robert Galarza. "With the unique technology of our Master Genome Strain and Clone registration program, producers can now guarantee their strains and provide customers with product assuredness."
This is a major advancement in the cannabis space and one that should benefit both companies involved. According to Yahoo Finance, WMD is currently trading at $1.64 a share, up +$0.015 (+0.92%).
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