(Image Credit: Chris Li)
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. Across our global marijuana stock universe, market moves have been relatively muted in today's session as broad equity markets in the U.S. and Canada are rebounding from yesterday's selloff.
The Canadian Bioceutical Corp. (CSE:BCC)(OTC:CBICF)
After posting modest gains yesterday, shares of The Canadian Bioceutical Corp. are under pressure in today's session. As of midday trading Thursday, shares are down nearly 4% on the OTC Markets and are down more than 1% on the CSE. We'll be watching to see how the markets continue to digest yesterday's news of potential acquisitions in Maryland and Arizona.
Naturally Splendid Enterprises Ltd. (TSX.V:NSP)(OTC:NSPDF)
As of midday trading Thursday, shares of Naturally Splendid Enterprises are down roughly 5% on the TSX Venture, while their OTC Markets listing is down nearly 4%. This morning, Naturally Splendid reported the company's first quarter financial results. On a year-over-year basis revenues were down 59%, though gross margin increased 88% over the same period. We'll be watching to see how the markets continue to react to Naturally Splendid's financial results.
North American Cannabis Holdings Inc. (OTC:USMJ)
North American Cannabis Holdings is flat in midday trading after the company announced their third quarter financial results. On a year-over-year basis, revenue grew 40% and gross profit grew 53%. We'll be watching to see if volume and volatility pick up in USMJ as the trading day goes on.
Tetra Bio-Pharma Inc. (CSE:TBP)(OTC:GRPOF)
Tetra Bio-Pharma shares are up roughly 6% in midday trading on the CSE. Their OTC Markets symbol is up more than 3%. After the close yesterday, Tetra Bio-Pharma announced the company is filing a patent for the treatment of various forms of cancer and ocular disease. We'll be watching to see how the rest of the trading day plays out in shares of Tetra Bio-Pharma.
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.