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:
CannaRoyalty Corp. (CSE:CRZ)(OTC:CNNRF)
In premarket trading Monday, shares of CannaRoyalty Corp. were halted pending the release of news. CannaRoyalty Corp. just announced that they are raising $12 million from debt and are forming a cannabis financing joint venture. Shares of CannaRoyalty will resume trading at 10:45 AM and we'll be watching to see the market reaction to this news.
Canopy Growth Corp. (TSX:WEED)(OTC:TWMJF)
On Friday, Canopy Growth Corp's subsidiary, rTrees Producers Ltd. received their ACMPR cultivation license from Health Canada. This morning, Canopy Growth released a shareholders' update regarding this and other recent developments at the company. In early trading Monday, shares of Canopy Growth Corp. are up roughly 2%. We'll be watching to see the continued market reaction to their shareholders' update.
Supreme Pharmaceuticals Inc. (TSXV:FIRE)(OTC:SPRWF)
Shares of Supreme Pharmaceuticals Inc. are up more than 4% in early trading today. Although they have not yet received their sales license from Health Canada, this morning the company provided an optimistic update regarding their progress. One highlight of the update was that Health Canada has informed Supreme that their license will be amended in the near term to permit them to sell seeds and starting materials to other licensed producers. We'll be watching to see how the markets digest this news in the rest of today's session.
WeedMd Inc. (TSXV:WMD)
In early trading Monday, shares of WeedMd are roughly flat on the day, after giving back gains on the open. This morning, WeedMd announced that the company obtained an amendment to its ACMPR license to produce cannabis oils. We'll be watching to see how the markets react to this news through the rest of today's trading.
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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