Weed Stocks Trading Up: Namaste Technologies and MedMen Enterprises

weed stocks

Multiple weed stocks are trading up today, the second day of the new year. In this price watch article, we’re going to be looking at the Namaste Technologies stock, which, at the time of writing, is up nearly 20%. We will also cover the MedMen stock. 

Weed Stocks: Namaste Technologies (TSXV:N) (OTCQB:NXTTF) 

According to Yahoo Finance, as of 2:22 PM, NXTTF stock is trading at $0.71 on the OTC market, which puts it up 21.58%. On the TSXV exchange, the weed stock is up 21.25%.

With operations in more than two dozen countries, Namaste Technologies is a global leader in the medical cannabis systems sector. It has not made any announcements this week, with the last being on December 21st, in which the company provided an update on the Bonify product recall. It did, however, announce on December 5th that it will be opening cannabis cafes, deemed NamasteCafe.

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Weed Stocks: MedMen Enterprises (CSE:MMEN) (OTCQX:MMNFF)

On the OTC market, according to Yahoo Finance, MedMen stock is trading at $3.08, which puts it up 9.22%. It is also trading up on the CSE, with MMEN stock up 8.57% at the time of writing.

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Based in Culver City, California, MedMen Enterprises is a cannabis company that has operations across the United States, such as in California, Nevada, and New York. Despite not making any announcements this week, the weed stock did announce on December 24th that it signed a definitive agreement to acquire Chicago-based PharmaCann. The news sent the stock up around 3%. 

The Takeaway

As mentioned, there are multiple weed stocks kicking off the new year on a positive note. There’s no telling if this uphill trend will last. Therefore, it’s possible that MedMen stock and Namaste stock could drop tomorrow. For that reason, it’s crucial that cannabis investors watch these two weed stocks for the remainder of the week. 

Check back in tomorrow for more news on weed stocks! 

Featured Image: Depositphotos/adriantoday