Marijuana penny stocks are ending the week mostly green. The major cannabis stocks were up and down this week, and most penny stocks saw losses mid-week. It seems investors are buying into the sector once more.
Today, we'll look at two marijuana penny stocks that are trading up today on the TSXV. Looking to get your hands on a few of these penny stocks? These might be good choices—let's get into it!
The Supreme Cannabis Company Inc. (TSXV:FIRE)
The Supreme Cannabis Company produces medical cannabis and operates out of Toronto, Ontario. Supreme was formerly a pharmaceutical company but transitioned to cannabis in December of 2017. The company was founded back in 1979 and has a long history of the creation and distribution of products. While the company is somewhat new to the cannabis space, it shows a strong history of distribution of medicine.
The marijuana penny stock has had a strong month on the TSXV. According to Yahoo Finance, FIRE is currently trading at $1.72 a share, up +$0.05 (+2.99%). For the month, Supreme stock is up nearly 30%. At the time of writing, FIRE is leading the marijuana penny stocks on the TSXV for most trades.
The reason for its spike might be from its announcement nine days ago. The Supreme Cannabis Company received conditional approval to list on the Toronto Stock Exchange. The final approval of the listing is subject to Supreme meeting certain conditions set by the TSX.
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Aleafia Health Inc. (TSXV:ALEF)
Aleafia Health is another marijuana penny stock that has had a great month. The Concord, Ontario-based medical cannabis company has made significant momentum in 2019 already.
Four days ago, the company announced it had fulfilled its first transactions under its supply agreement with CannTrust. In addition to the fulfilled transaction, Aleafia completed phase 1 of its greenhouse facility that will serve over 50,000 medical cannabis patients.
According to Yahoo Finance, ALEF is currently trading at $1.70 a share, up +$0.06 (+3.66%). For the month, the marijuana penny stock is up 23%.
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