It's not a good day for the Canadian cannabis market. Multiple cannabis stocks are trading in the red, including Golden Leaf Holdings, Cannabix Technologies, and Nutritional High International. Not to mention Crop Infrastructure (CSE:CROP) took a massive nosedive on the Canadian Securities Exchange.
For this article, however, we're going to be focusing on the first three companies mentioned: Golden Leaf Holdings, Cannabix Technologies, and Nutritional High.
Cannabis Stocks Down, Down, Down
Perhaps what makes these three cannabis stocks trading down today so noteworthy is the fact that none of these companies have made an announcement today. Or maybe that's the problem. Either way, all three are silent, and yet all three are trading down nearly 10%.
1. Golden Leaf Holdings (CSE:GLH)
Based in Toronto, Ontario, Golden Leaf Holdings both produces and distributes cannabis products, targeting the adult-use regulated cannabis market.
As of 3:28 p.m. EDT, Golden Leaf Holdings is trading at $0.27, which puts the stock down 6.90%.
GLH has not made an announcement since Monday, which was when it announced that it moved into an agreement with Canaccord Genuity Corp.
2. Cannabix Technologies (CSE:BLO)
Based in Burnaby, British Columbia, Cannabix Technologies is primarily a technology company but has started to engage in the development of marijuana breathalyzer technology.
As of 3:28 p.m. EDT, Cannabix Technologies is trading at $1.61, which puts the stock down 4.73%.
It's been a while since Cannabix talked to the public, the last time being at the end of August when the company provided a technology update on its marijuana breathalyzer development.
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3. Nutritional High International (CSE:EAT)
Also based in Toronto, Ontario, Nutritional High is a company involved in the development of brands and packing for a confectionery line.
On Tuesday, Nutritional High announced 2018 annual and special meeting results. Two days later, the stock has closed the trading day down nearly 10%.
At market close, Nutritional High was down 7.14%.
The Takeaway
Cannabis stocks fluctuate, that's just how it works, but do these three stocks being down today mean something similar will happen tomorrow? Not necessarily, but stay vigilant.
Featured Image: Depositphotos/© interested
