It's a pretty quiet day in the cannabis-related equity markets today. News is slow, and volatility has calmed across our global marijuana stock universe. That said, there are a few companies we'll be keeping an eye on as we finish out this week's trading.
Aurora Cannabis Inc. (TSX-V:ACB)(OTC:ACBFF) & Hempco Food & Fiber Inc. (TSX-V:HEMP)
Yesterday 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%. Shortly after the announcement, shares of both companies were halted pending "clarification" of news. Later on, Aurora put out another press release providing more details on the investment. As of this morning, shares of Aurora and Hempco have resumed trading on the TSX-V. In early trading Friday, Aurora is up more than 2.5% and Hempco is down roughly 2.0%. We'll be watching shares of both companies as the markets continue to digest this news.
General Cannabis Corp. (OTC:CANN)
Shares of General Cannabis Corp. are up roughly 9% as of early trading Friday. Earlier today, the company announced they are acquiring "GC Finance Arizona LLC". "GC Finance Arizona LLC" owns half of an Arizona distributor of medical marijuana infused products. We'll be watching shares of General Cannabis through the rest of today's trading as the markets digest this acquisition announcement.
MedReleaf Corp. (TSX:LEAF)
Shares of MedReleaf Corp. continue to recover the losses from their horrendous first day of trading. In early Friday trading, shares of LEAF are up more than 2.5%. We'll be watching to see how shares of MedReleaf finish out their first week of trading.
Matica Enterprises Inc. (CSE:MMJ)(OTC:MQPXF)
Yesterday morning, Matica Enterprises Inc. announced that the company has obtained construction permits for its medical marijuana growing facility. After posting strong gains yesterday, shares of Matica are up more than 11% and more than 5.5% on the CSE and the OTC Markets respectively. We'll be watching to see if the recent bullish action can continue in shares of Matica.
There's not much else moving markets in the weed stock world today, but we'll be sure to keep readers posted. Be sure to subscribe to one of our free newsletters so you never miss an important update! Also, don't forget to connect with The Daily Marijuana Observer on Facebook, Twitter, and Instagram.
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