Based on recent news and market movement in the first half 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:
Gilla, Inc. (OTC:GLLA) and Friday Night, Inc. (CSE:TGIF)
In midday trading Tuesday, shares of Gilla, Inc, are up more than 7% on volume that is already higher than their 30-day average trading volume. Meanwhile, shares of Friday Night, Inc. are down more than 11%. This morning, Gilla announced that they signed a licensing agreement with Friday Night Inc.'s subsidiary, Alternative Medicine Association. The agreement will allow Alternative Medicine Association to produce and distribute Gilla's line of cannabis concentrate products in Nevada. We'll be watching to see how the rest of the trading day goes in shares of both companies.
Insys Therapeutics, Inc. (NASDAQ:INSY)
Shares of Insys are trading higher by more than 5% midway through today's session. This morning, Insys announced that the company has hired four pharmaceutical industry veterans to fill management roles. We'll be keeping an eye on shares of Insys through the rest of the trading day given this news and the bullish action in the first half of the day.
mCig, Inc. (OTC:MCIG)
Earlier today, mCig announced that the company's Grow Contractors division has signed a new Nevada client. As of midday trading Tuesday, shares of mCig are flat. We'll be watching to see if volumes and volatility pick up in mCig as the trading day goes on.
MYM Nutraceuticals, Inc. (CSE:MYM)(OTC:MYMMF)
In midday trading Tuesday, shares of MYM Nutraceuticals are up more than 36% on the CSE. The company's OTC Markets listing is up more than 47% on volume that is already more than 14 times their 30-day average trading volume! This morning, MYM announced that the company has signed an agreement with the Municipality of Weedon, Québec to build a 1.5 million square foot cannabis growing facility. We'll be watching to see if these gains can hold or continue to strengthen as the trading day goes on.
22nd Century Group, Inc. (NYSE:XXII)
22nd Century Group is down more than 2% in midday trading Tuesday. This morning, the company announced that they are partnering with The University of Virginia to use specially developed industrial hemp plants to clean lands polluted by coal mining activity. We'll be watching to see the continued market reaction to today's news.
That's all we have for now, but we'll be sure to keep readers posted regarding important developments in these names and in the cannabis industry worldwide. Remember that two of the stocks to watch today (Insys Therapeutics and 22nd Century Group) can be traded for free using the Robinhood App.
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