Marijuana penny stocks are trading red and green today on the market. The majority of the major cannabis companies are trading high in both the US and Canadian markets. It remains unknown at this time why most of the smaller cannabis companies are dipping.
There is one penny stock that is standing out from the rest on the TSXV though. Emerald Health Therapeutics Inc. (TSXV:EMH) (OTCQX:EMHTF) is dominating the marijuana penny stocks today. The cannabis company made a major announcement this morning that is pushing it past its competitors. Let's dig deeper!
Emerald Health Therapeutics Expands
This morning, Emerald Health Therapeutics announced its new facility in Quebec. Emerald Health's new facility, run by its wholly-owned subsidiary Verdelite Sciences Inc, is 88,000 square feet. Verdelite produces high-grade dried cannabis for the recreational and medical cannabis market in Canada.
The marijuana penny stock has invested over $100 million into its new facility, which features 23 state-of-the-art growing rooms.
"This investment will enable us to produce quality cannabis products adhering to our high growing and processing standards,” said Thierry Schmidt, President of Verdelite Sciences. “Verdélite will be synonymous with differentiated and value-added cannabis products, and we are pleased to see the level of industry skill and enthusiasm coming from the Saint-Eustache community and the local interest and support to help contribute to our success.”
Verdelite also anticipates developing and producing edible cannabis products in 2019. The law is still not yet placed, but Health Canada expects the verdict to be reached before October 17th, 2019.
Marijuana Penny Stock Movement
According to Yahoo Finance, EMH is currently the top positively trading marijuana penny stock on the TSXV today. At the time of writing, EMH is trading at $3.66 a share, up +$0.29 (+8.61%). Year-to-date, the stock is up nearly 30%.
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