Marijuana penny stocks are trending green again this morning, as we kick off the second week of the new year! Major Canadian and US cannabis stocks are also climbing.
Today, we'll take a closer look at two marijuana penny stocks that are trending on the TSXV.
Namaste Technologies Inc. (TSXV:N)
Namaste Technologies is a cannabis e-commerce company and operates out of Vancouver, British Columbia. As of the end of 2018, the cannabis company sold its products online in 26 different countries. In addition to its sales of vaporizers and smoking associates, Namaste also distributes medical cannabis products.
The last investor update from the company was just over two weeks ago, before the holidays kicked off. At that time, Namaste announced its stance on the Bonify Inc. recall, dealing with its CannMart operations. CannMart will no longer be distributing products from Bonify, as per Health Canada.
This morning, Namaste shares are leading the marijuana penny stocks on the TSXV for the number of trades and volume. According to Yahoo Finance, N is currently trading at $1.28 a share, up +$0.14 (+12.28%).
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The Supreme Cannabis Company, Inc. (TSXV:FIRE)
The Supreme Cannabis Company is a medical cannabis production company based out of Toronto, Ontario. The company is among the top trading marijuana penny stocks on the TSXV this morning. Supreme was formerly a pharmaceutical company but changed its direction to cannabis in December of 2017.
The latest news released by the cannabis company was five days ago. At that time, Supreme Cannabis provided its investors with an update on its 7ACRES property.
"We are thrilled with the progress made at our facility in Kincardine, Ontario and are excited to announce that we are nearing completion for all of our flowering rooms," said John Fowler, President and Founder of Supreme Cannabis.
Supreme expects 7ACRES to reach its estimated annual output of 50,000 kg of medical marijuana by mid-2019. The sharp rise in the company's share price this morning might be contributed to an industry trend. According to Yahoo Finance, FIRE is currently trading at $1.73 a share, up +$0.16 (+10.19%).
Featured Image: Depositphotos © graycat
