Based on recent news and market movement in the early part of the trading day, here are a handful of marijuana stocks we'll be keeping an eye on through the rest of today's trading session:
Aurora Cannabis Inc. (TSXV:ACB) (OTC:ACBFF) & Radient Technologies Inc. (TSXV:RTI)
Earlier today, Aurora Cannabis & Radient Technologies announced the successful completion of research regarding the use of Radient Technologies extraction systems for cannabis. The companies noted a significant increase in efficiency as well as lower processing times. In midday trading Monday, shares of both companies are under pressure with ACB down roughly 4.5% and RTI down more than 12%. We'll be watching today's action in both companies to see the continued market reaction to this news.
Cannabis Wheaton Income Corp. (TSXV:CBW)(OTC:KWFLF)
In pre-market trading today, shares of Cannabis Wheaton Income Corp. were halted pending the release of news. Earlier this morning, Cannabis Wheaton responded to rumors of an investigation saying, "we wish to confirm in the strongest possible terms that no law enforcement or other regulatory agencies have contacted the Company and that any allegations to the contrary being published online are entirely without merit.". The company also announced that their previously announced private placement is on hold after the company and the Co-Lead agents of the offering have mutually agreed to terminate the Engagement Letter. We'll be watching the news when it is released, and the market reaction when shares resume trading.
Insys Therapeutics Inc. (NASDAQ:INSY)
In midday trading Monday, shares of Insys are down more than 7%. Last night, a scathing media investigation into Insys regarding the marketing of their fentanyl product was featured on NBC's show, Sunday Night with Megyn Kelly. On Friday, Insys Director, Dr. Rohit Vishnoi filed a Form 4 with the SEC regarding his recent stock purchase. We'll be watching to see how the trading day continues to play out given these news items.
The Hydropothecary Corp. (TSXV:THCX) (OTC:HYYDF)
Shares of The Hydropothecary Corp. are up more than 7% on the TSX Venture and haven't traded yet today on the U.S. OTC Markets. This morning, Hydropothecary announced that the company is expanding its voluntary recall related to the presence of a banned fungicide. We'll be watching to see how shares trade through the rest of the session given this news.
That's all for now folks, but we'll be watching the market action in these names and more marijuana related stocks through the rest of the trading day. Be sure to subscribe to one or more of our free email newsletters so you never miss an important marijuana industry update. Also, visit us on Facebook, Twitter and Instagram!
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.