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.
Aurora Cannabis Inc. (TSXV:ACB)(OTC:ACBFF)
In early trading Thursday, shares of Aurora Cannabis are roughly flat on both the TSX Venture and the U.S. OTC Markets. This morning, the company announced record monthly revenue in May attributable to the company's launch of ingestible cannabis oils. Yesterday, Aurora announced that they will be purchasing wholesale cannabis from WeedMD. We'll be watching to see if volume and volatility picks up in shares of Aurora on today's news.
Hydropothecary Corp. (TSXV:THCX)(OTC:HYYDF)
This morning, Hydropothecary Corp. announced the company's financial results for their fiscal third quarter. In early trading, shares of THCX are down roughly 6% on the TSX Venture. The company's OTC markets symbol hasn't traded today. We'll be watching to see how the markets continue to digest their earnings results.
Marapharm Ventures Inc. (CSE:MDM)(OTC:MRPHF)
In early trading today, shares of Marapharm are up more than 11% on the CSE and roughly 16% on the OTC Markets. This morning, the company announced they are making additional progress towards recreational licensing in Nevada. Recreational marijuana becomes legal in the state of Nevada starting July 1st. We'll be watching to see if these early gains can hold through the rest of the trading day.
Supreme Pharmaceuticals Inc. (TSXV:FIRE)(OTC:SPRWF)
Yesterday afternoon, Supreme announced that they have finally received their sales license from Health Canada. This announcement sent shares higher by approximately 7% on both the TSX Venture and the OTC Markets yesterday. In early trading Thursday, shares of Supreme are giving back some gains, falling roughly 3% on the TSXV. The company's OTC Markets symbol is down fractionally. We'll be watching to see how the markets continue to digest this news.
Umbral Energy Corp. (CSE:UMB)(OTC:UMBBF)
Shares of Umbral Energy Corp. remain halted today pending the release of news. Even though you'd never guess it based on the company's name, Umbral Energy owns 50% of a late stage ACMPR applicant. We'll be watching the news when it is released and the market reaction when shares resume trading.
That's all for now, but we'll be sure to keep readers posted regarding important developments in these names and in the cannabis industry worldwide.
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