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.
American Cannabis Company Inc. (OTC:AMMJ)
This morning, American Cannabis Company announced they signed a new consulting client in the state of Colorado. In early trading, shares of AMMJ are up more than 16% on lighter than average volume for this time of day. We'll be watching to see if this early bullish action can continue on today's news.
Canopy Growth Corp. (TSX:WEED)(OTC:TWMJF)
Shares of Canopy Growth Corp. are falling more than 4% on both the TSX and the OTC Markets. After the close yesterday, the company announced their fourth quarter and full year financial results. We'll be watching shares as the markets continue to digest their earnings.
Cara Therapeutics Inc. (NASDAQ:CARA)
The bulls aren't tired yet in shares of Cara Therapeutics! After gaining more than 35% last week and another 12% yesterday, CARA is up another 9% in early trading Tuesday. Trading volume today is already higher than the company's 30-day average volume. We'll be watching to see if these gains can hold or strengthen through the rest of the trading day.
India Globalization Capital Inc. (NYSE:IGC)
After gaining more than 37% yesterday, shares of India Globalization Capital are taking a breather this morning, falling roughly 9% in early Tuesday trading. Volume today is already more than double the company's 30-day average volume. We'll be watching to see how shares trade through the rest of the session given this recent volatility.
Intec Pharma Ltd. (TASE:NTEC)(NASDAQ:NTEC)
Shares of Intec Pharma are up more than 5.5% in early trading on volume that is already more than double the company's 30-day average volume. The company's listing in Tel Aviv closed up 3.53% on higher than average volume. We'll be watching shares of Intec through the rest of the U.S. trading day to see if these early gains can hold.
MassRoots Inc. (OTC:MSRT)
In early trading Tuesday, shares of MassRoots are flat on light trading volume. This morning, MassRoots announced that they will be hosting a conference call this Thursday. We'll be watching to see if volume and volatility picks up in shares of MassRoots as we get closer to the call.
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 three of the stocks to watch today (Cara Therapeutics, India Globalization Capital and Intec Pharma) can be traded for free using the Robinhood App.
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