(Image Credit - Paul Sableman)
Based on recent news and market movement in the early part of the trading day, here are a few marijuana stocks we'll be watching through the rest of today's trading session. Although broad equity markets in the U.S. and Canada are selling off today, marijuana stocks are relatively quiet in today's trading session.
AXIM Biotechnologies Inc. (OTC:AXIM)
As of midday trading Wednesday, shares of AXIM Biotechnologies are down more than 8%. In yesterday's session, AXIM surged 37.64% without any recent news. We'll be watching to see if shares give back more of yesterday's gains through the rest of today's session.
The Canadian Bioceutical Corp. (CSE:BCC)(OTC:CBICF)
Shares of The Canadian Bioceutical Corp. are up nearly 2% in midday trading on the CSE after announcing LOIs to acquire up to four cannabis enterprises in Maryland and Arizona. Their OTC Markets listing is down more than 13% on higher than average volume. We'll be watching to see how the markets continue to react to the company's expanded U.S. presence.
Medicine Man Technologies Inc. (OTC:MDCL)
Earlier today, Medicine Man Technologies announced the company's Q1 earnings and filed the company's 10-Q with the SEC. On a year-over-year basis, revenues grew 270% in the quarter. This revenue growth was accompanied by higher operating expenses and costs of services. In midday trading, shares are up more than 2% on volume that is already double the company's 30-day average trading volume. We'll be watching to see how the market continues to react to today's earnings release.
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.