Marijuana penny stocks are trading red this morning on the TSXV. US markets are open again this morning after being closed yesterday for Martin Luther King Jr. Day. Some of the major marijuana stocks on the TSX are trading green, which doesn't explain why the penny stocks have taken a tumble.
Today, we'll take a closer look at two smaller marijuana companies and their latest stock movements.
Namaste Technologies Inc. (TSXV:N)
Namaste Technologies is a cannabis e-commerce company that operates out of Vancouver, British Columbia. The company saw exponential growth in its stock earlier this month, but its share prices have since plateaued. Today, Namaste is trading red, and its number of daily trades are down exponentially.
Yesterday, trade volume was high, but it may just be that investors are focused on US-based stocks today. Still, Namaste has positioned itself to grow exponentially in 2019. The marijuana penny stock runs its e-commerce site in 26 different countries and has been rapidly expanding its reach.
Seven days ago, Namaste confirmed that an acceleration event occurred as of the close of the market on January 14th. The company has chosen to accelerate the expiry of the October 2017 warrants until February 15th, 2019 at 4:00 PM.
According to Yahoo Finance, the marijuana penny stock is currently trading at $1.33 a share, down - $0.02 (-1.48%).
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Aleafia Health Inc (TSXV:ALEF)
Aleafia Health is also among the marijuana penny stocks that have taken a hit in its shares this morning. The medical cannabis company has also seen exponential growth in its stock since the new year.
Three hours ago, CFN media released an exclusive interview with the company's CEO, Geoffrey Benic. In the interview, Benic discusses why Aleafia chose the medical clinic space and the Emblem Corp acquisition.
In addition to this news, a week ago Aleafia announced it had fulfilled the first transaction under its supply agreement with CannTrust. This is big news for the marijuana penny stock.
According to Yahoo Finance, ALEF is currently trading at $1.71 a share, down -$0.03 (-1.72%).
Featured Image: Depositphotos © doudkin
