Most marijuana penny stocks are trending downward today on both US and Canadian markets. However, 2019 has been an excellent year for the marijuana industry so far. Many of the major marijuana stocks have seen exponential share gains this year, and a few penny stocks have followed suit.
Top Marijuana Penny Stocks in 2019 So Far
If you’ve been looking to add a few of these stocks to your portfolio, you’ve come to the right place. Today, we’ll cover three marijuana penny stocks that have skyrocketed above their peers and have seen exponential growth in the new year.
Canopy Rivers Inc. (TSXV:RIV) (OTC:CNPOF)
Canopy Rivers is a public investment firm based out of Toronto, Ontario. The company invests in cannabis companies and seeks to make minority stakes within those companies. Yesterday, one of the world’s largest cannabis companies, Canopy Growth Corporation (TSX:WEED) (NYSE:CGC) announced that it would be giving the company an additional $30 million in working capital. Canopy Growth is Canopy River’s largest shareholder, and the company’s stake has now risen to around 27.3%.
The marijuana penny stock didn’t see any exponential growth yesterday in its share price after the deal, but the market has been up and down all week. Despite the growth yesterday, RIV has had a great 2019 so far.
At the time of writing, RIV shares are up 46% year-to-date, and CNPOF shares are up 53% on the OTC.
Khiron Life Sciences Corp. (TSXV:KHRN) (OTCQB:KHRNF)
Khiron Life Sciences develops cannabis products for medical purposes. The company is based out of Toronto, Ontario and it also provides cosmeceutical and nutraceutical products. Two days ago, the company announced a $20 million bought equity financing deal.
While the penny stock may not be backed by a large marijuana company like Canopy Rivers, it is making a name for itself in the emerging CBD space.
According to Yahoo Finance, KHRN is up nearly 75% on the TSXV year-to-date and up 76% on the OTC.
Emerald Health Therapeutics Inc. (TSXV:EMH) (OTCQX:EMHTF)
Emerald Health Therapeutics produces and sells medical cannabis in Canada. The company was formerly a pharmaceutical company but switched over to producing and selling cannabis in June of 2015.
The marijuana penny stock has had a great start to 2019 so far. According to Yahoo Finance, EMH is currently up 32% on the TSXV year-to-date, while EMHTF is up 35% on the OTCQX.
While Emerald Health hasn’t seen as large a share growth as the others in this article, it has had quite the movement the past week, indicating further potential growth. Four days ago, the company announced it secured a proprietary extraction technology with Idena. Earlier this morning, Emerald Health announced it has been selected to supply Ontario with Pure Sunfarms-branded cannabis products for the recreational market.
Top Marijuana Penny Stock Wrap Up
What do you think about Canopy Rivers, Khiron Life Sciences, and Emerald Health Therapeutics? Would you add these stocks to your watchlist?
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