Today we're looking at marijuana penny stocks MariMed (OTCQB:MRMD) and Chemesis International (CSE:CSI) (OTCQB:CADMF). One's trading up, and one's trading down, so we're going to take a closer look to see what's going on.
MariMed Inc. Trading Green
MariMed Inc announced yesterday that it would make its appearance at two investment conferences this month. The first conference, Opal Group's Family Office Winter Forum, started today and the company's CEO Bob Fireman will participate in the 4:00 PM panel discussion. Today's conference is being held at the Marriott Marquis Hotel in Times Square, New York City. Today's appearance at the New York conference may be the reason for the marijuana penny stock's climb in the current bear market.
At the time of writing, MRMD is trading at $3.92 a share, up +$0.02 (+0.51%). While the share gains aren't that high to celebrate, many marijuana penny stocks are seeing significant share losses today.
On March 18–19th, MariMed senior management will be at the 31st annual Roth Conference. The Roth Conference will be held at the Ritz Carlton, Laguna Nigel, in Orange Country, California and will attract over 4,700 attendees. Around 550 companies will also participate at the networking conference. The exposure at the conference could bode well for the company, as well as MRMD stock.
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Chemesis International Drops but Still Up +16% This Week
A marijuana penny stock that has stood out from the rest these past five days of trading is Chemesis International. The Vancouver-based cannabis company started its cannabis-related operations last year, but already retails products in Puerto Rico and California.
Five days ago, Chemesis announced its Fiscal Q2 2019 financial results, impressing investors. The cannabis company reported earnings of $2.8 million CAD in Q2, a +47% increase from the previous quarter. The company had a number of key movements in the quarter that also might have aided investor interest in this marijuana penny stock.
That same day, Chemesis also released news of the closing of its $2.7 million CAD private placement with Global Emerging Markets. With its movements this week and positive earnings, the company's stock has the potential to rebound rather quickly.
At the time of writing, the marijuana penny stock is currently trading on the CSE at $2.06 a share, down -$0.15 (-6.79%). For the week, the penny stock is still up +16%.
On the OTCQB, CADMF is trading at $1.53 a share, down -$0.12 (-7.37%). The marijuana penny stock is still up +15% in the last five days, despite the correction.
Featured Image: Canva
