(Photo Credit - Banco Carregosa)
Based on recent news and market movement in the early part of the trading day, here are a few marijuana stocks we're watching through the rest of today's trading session.
Canabo Medical Inc. (TSXV:CMM)(OTC:CAMDF)
In midday trading, shares of Canabo Medical are recovering some recent losses, gaining more than 9%. In recent weeks, Canabo shares have struggled despite the company's continued announcements of clinic openings and partnership agreements. We'll be watching to see if today's gains can hold through the session.
Innovative Industrial Properties Inc. (NYSE:IIPR)
Following the company's first quarter earnings release last night, trading action in shares of IIPR is relatively muted. As of midday trading, shares of Innovative Industrial Properties on the NYSE are gaining more than 1%. We'll be watching to see if volume and volatility picks up in IIPR as the market continues to digest their results.
INSYS Therapeutics Inc. (NADSAQ:INSY)
Shares of INSYS Therapeutics continue to be active in trading following Tuesday's earnings report and the analyst downgrade yesterday. As of midday trading Thursday, INSY is roughly 3%. We'll be keeping an eye on shares of INSY to see how they finish today's session.
Terra Tech Corp. (OTC:TRTC)
Earlier today, Terra Tech announced the company's first quarter financial results. A highlight of their results was the 340% increase in revenue compared to the first quarter of last year. The company is also positioned well to take advantage of Nevada's early start retail marijuana program. On the other hand, despite higher revenue, Terra Tech posted a greater operating loss versus last year's first quarter. Shares of TRTC are down more than 5% halfway through today's session.
Zoned Properties Inc. (OTC:ZDPY)
As of midday trading Thursday, shares of Zoned Properties are up more than 6% following strong gains yesterday. These gains come ahead of the company's conference call regarding their first quarter financial results after the close today. We'll be watching to see if this bullish action continues through the session.
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. We'll be sure to keep readers posted regarding any important industry developments. Be sure to subscribe to one of our free newsletters so you never miss an important update!
I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The information contained on DailyMarijuanaObserver.com has been prepared solely for informational purposes. Nothing on the site is an offer or solicitation to buy or sell securities. Investors should seek financial advice regarding the appropriateness of investing in any securities mentioned from their financial advisor.