It's about 11:30 here on Wall Street, and looking across our databases of marijuana related stocks as well as news that has come out since the close of trading yesterday, there are a few cannabis-related companies moving in the first half today's trading session. These marijuana related companies are listed below in alphabetical order.
Canopy Growth Corp.
One publicly traded Canadian L.P. that we're watching this morning is Canopy Growth Corp., which trades on the TSX under the symbol WEED, as well as the OTC Markets under TWMJF. There's even a Frankfurt listing, 11L1, although markets in Europe are almost done trading. Despite news this morning that Canopy formed a special entity just to accumulate bulk cannabis from other Licensed Producers, shares of Canopy are down roughly 1.75% in Canada, and down roughly 2.50% in the U.S. on the OTCPink marketplace.
Innovativ Media Group, Inc.
Innovativ Media Group is one OTC listed company that recently started to announce a focus on the cannabis space. This morning, Innovativ announced that the company would be launching new online, ad supported platform and channel CannaNet.TV in Europe in Q'4 of 2107. This news has sent shares of the thinly-traded stock up over 6% so far in midday trading. So far today, just over 4.5 million shares of INMG have changed hands. INMG has a 30-day average volume of almost 13.5 million shares.
Lexaria Bioscience Corp.
Lexaria Bioscience Corp. is a CSE listed "food biosciences company with a proprietary technology for improved delivery of bioactive compounds," such as cannabinoids. This morning, Lexaria announced that 1,075,000 common shares of LXX are being issued as a result of warrant exercises. Shares of Lexaria trading in the U.S. on the OTCQB markets under the ticker LXRP are down a little over 1.5% on the dilution news.
Another Canadian L.P. worth watching, WeedMD officially began trading on the TSX Ventures Exchange today under the symbol WMD. While shares opened up over $1 CAD, shares of WMD are now trading around $0.85 on high selling volume. Chances are, this selling is caused by early investors who are now able to liquidate.
To learn more about any of the cannabis companies or news stories mentioned, be sure to check out the articles and stock profiles linked above. So you never miss a marijuana stock update, be sure to connect with The Daily Marijuana Observer on social media using the links to the right of this article. If any of your friends are interested in investing in marijuana stocks, be sure to share this article with them using the links below.
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