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:
iAnthus Capital Holdings Inc. (CSE:IAN)(OTC:ITHUF)
Shares of iAnthus are up more than 3.5% and more than 4.5% on the CSE and the OTC Markets respectively in early trading today. Yesterday, iAnthus announced the company's acquisition of a New York medical marijuana license holder. We'll be watching to see if this bullish action can continue given this news of their New York expansion.
InMed Pharmaceuticals Inc. (CSE:IN)(OTC:IMLFF)
On the CSE, shares of InMed Pharmaceuticals are down nearly 5% The company's OTC Markets listing is down more than 6% in early trading today. This morning, InMed announced a partnership with Israeli contract research organization, Pharmaseed to develop a topical formulation of InMed's leading cannabinoid drug candidate, INM-750. We'll be watching to see how the markets play out for shares of InMed.
Helix TCS Inc. (OTC:HLIX)
In early trading Tuesday, shares of Helix TCS are up more than 14% on volume that is already nearly double the company's 30-day average volume. Today's bullish action comes without any recent news at the company. Last week, Helix TCS announced the company's acquisition of a Colorado cannabis security provider. We'll be watching to see how the trading day plays out for shares of Helix TCS.
Kush Bottles Inc. (OTC:KSHB)
Kush Bottles is up more than 3% on light volume in early Tuesday trading. This morning, the company announced they have been granted a patent relating to their child-proof packaging product. We'll be watching to see if trading volumes pick up in shares of Kush Bottles as the day goes on.
RespireRX Pharmaceuticals Inc. (OTC:RSPI)
Shares of RespireRX Pharmaceuticals are up more than 11% on light volume as of early trading Tuesday. Today's bullish action comes without any recent news from this cannabinoid biotech company. Learn more about RespireRX by checking out our article featuring the THC therapy they are developing for Sleep Apnea.
Scotts Miracle-Gro (NYSE:SMG)
On news the company cut its full year sales and earnings guidance, shares of Scotts Miracle-Gro are up more than 3% in early Tuesday trading. Yes, that's right, up. Scotts' did mention an increase in the company's stock buyback program which may be contributing to some of the early bullish action. We'll be watching to see how this dichotomy of news plays out through the rest of today's session.
WeedMD Inc. (TSXV:WMD)
Earlier this morning, WeedMD announced that the company has started sales of cannabis clones and other starting materials to ACMPR registered patients seeking to grow at home. On this news, shares of WeedMD are higher by more than 1% in early Tuesday trading. We'll be watching to see how the markets continue to react to today's news.
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE)
After taking a sharp hit in yesterday's trading on news of an agreement to issue and sell up to $50 million worth of common stock, Zynerba is recovering some of their losses. In early Tuesday trading. shares of Zynerba are up more than 4%. We'll be watching to see if shares can hold on to these early gains through the rest of the trading day.
Conclusion
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.
D/M/O
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