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. (TSX-V:ACB)(OTC:ACBFF) & Hempco Food & Fiber Inc. (TSX-V:HEMP)
This morning, Aurora announced that the company is taking up to a 19.9% stake in industrial hemp producer, Hempco Food & Fiber. Aurora also has the option to increase their ownership to 50.1%. On this news, shares of Aurora are up more than 1% on the TSX-V and up more than 2.5% on the OTC Markets in early trading Thursday. Hempco Food & Fiber shares are up more than 6% in early trading on the TSX Venture. We'll be watching shares of both companies as the markets continue to digest this news.
American Cannabis Company, Inc. (OTC:AMMJ)
Shares of American Cannabis Company are roughly flat as of early trading Thursday. Earlier, American Cannabis Company announced they signed their first consulting client in Arkansas. We'll be watching to see if volume and/or volatility pick up in shares of AMMJ on today's news.
Matica Enterprises Inc. (CSE:MMJ)(OTC:MQPXF)
Matica Enterprises announced this morning that the company has obtained construction permits for its medical marijuana growing facility. The company has an agreement to become a majority owner of late stage ACMPR applicant, RoyalMax Biotechnology Canada. On the CSE, shares of Matica are higher by 12.5% while their OTC Markets symbol is up more than 5%. We'll be watching to see the continued market reaction to today's news of progress at their ACMPR applicant.
MedReleaf Corp. (TSX:LEAF)
MedReleaf Corp. made its market debut on the TSX yesterday, and although shares sold off hard, today they are recovering some of yesterday's losses. As of early Thursday trading, shares of LEAF are higher by more than 9%. We'll be watching to see how the market plays out in shares of MedReleaf as the day goes on.
22nd Century Group Inc. (NYSE:XXII)
Shares of 22nd Century Group are up more than 8% as of early trading Thursday. Today's gains come after the company closed up more than 10% in both of the last two trading days. This morning, the company announced that they are partnering with Dent Neurosciences Research Center to conduct a brain imaging study on the effects of the company's Very Low Nicotine cigarettes. We'll be watching to see if this recent bullish action can continue in shares of 22nd Century.
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE)
This morning, Zynerba announced that the company has reached its target enrollment for their phase two study of cannabidiol (CBD) gel for the treatment of Fragile X. On this news, shares of Zynerba are down more than 2% as of early trading Thursday. We'll be watching to see if volume and/or volatility pick up in shares of ZYNE on today's 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!
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