Marijuana penny stocks are trading green as we kick off the first full week of February. Most are seeing consistent market gains on both US and Canadian markets. There are a few standouts early this morning, as traders flooded in at the bell.
Today, we'll take a look at those marijuana penny stock standouts and their latest news.
Radient Technologies Inc. (TSXV:RTI)
Radient Technologies engages in the research, development, and commercialization of technology for the extraction, isolation, and purification of soluble products. The company is based out of Edmonton, Alberta. Radient isn't specifically a cannabis company, but it has just been granted a standard processing license from Health Canada. Today, it is among the top trading marijuana penny stocks on the TSXV.
The technology company is partnered with the major cannabis company Aurora Cannabis Inc. (TSX:ACB) (NYSE:ACB). Radient is Aurora's extraction partner. Since Aurora invested in Radient, the company has broadly expanded into the hemp sector. This license will facilitate Aurora's derivative products strategy and expand Radient as a company.
Denis Taschuk, CEO of Radient, said:
"Our partnership with Aurora has been instrumental these past two years towards achieving this milestone. With our license granted, operations at our commissioned Edmonton I facility are now commencing. We are scaling up our operations further with the construction of our Edmonton II and III facilities, and we look forward to executing on our partnership with Aurora on a global scale."
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According to Yahoo Finance, the marijuana penny stock is trading at $1.08 a share, up +$0.27 (+33.335).
MedMen Enterprises Inc. (CSE:MMEN)
MedMen Enterprises is among the top trading marijuana penny stocks on the CSE today. On Friday, the company announced it would be debuting its second quarter fiscal 2019 results on February 27th.
This news may be the reason for MedMen's spike in share prices. According to Yahoo Finance, MMEN is currently trading at $4.44 a share, up +$0.13 (+3.02%).
Featured Image: Depositphotos/© bloomua
