Based on recent news and market movement in the early part of the trading day, there are some marijuana stocks we'll be keeping an eye on through the rest of today's trading session.
Canopy Growth (TSX:WEED)(OTC:TWMJF) & PUF Ventures (CSE:PUF)(OTC:PUFXF)
This morning, Canopy Growth Corp. announced that PUF Ventures will be joining the company's CraftGrow program as soon as PUF Ventures receives their ACMPR cultivation and sales licenses. In midday trading Thursday, shares of Canopy Growth are up roughly 1.5% on the TSX. Their OTC Markets symbol is up more than 2.5% on light trading volume. PUF Ventures is up roughly 8% and more than 11% on the CSE and the OTC Markets respectively. We'll be watching to see how both companies trade through the rest of the session given today's news.
Newstrike Resources Ltd (TSXV:HIP)
In midday trading Thursday, shares of Newstrike Resources are up more than 21% from today's open. This morning, shares resumed trading following the company's business combination with ACMPR licensed producer, Hemisphere Pharmaceuticals. We'll be watching to see how shares finish out their first day of trading.
Standard Graphite Corp. (TSXV:SGH) & Marapharm Ventures Inc. (CSE:MDM)(OTC:MRPHF)
This morning, Standard Graphite Corp. announced the company has entered into an LOI to acquire Marapharm Ventures' late stage ACMPR applicant. As of midday trading, shares of Standard Graphite Corp. are up more than 30%! On the other hand, Marapharm Ventures is trading down roughly 5% on both the CSE and the OTC Markets. We'll be watching to see how today's session plays out in shares of both companies.
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE)
Shares of Zynerba are down more than 1% as of midday trading Thursday. This morning the company announced that their CFO will be presenting at the 2017 Jefferies Healthcare Conference next week. We'll be watching to see if any anticipation comes into the markets as we get closer to this potentially news making event.
We'll be on the lookout for more news and will be keeping an eye on all of these stocks and more through the rest of the trading day. We'll be sure to keep readers posted regarding any important developments. Be sure to subscribe to one of our free newsletters so you never miss an important update!
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.