Based on recent news and market movement in the first half of the trading day, here are a handful of marijuana stocks to keep an eye on in the rest of today's session.
Arena Pharmaceuticals Inc. (NASDAQ:ARNA)
In midday trading Tuesday, shares of Arena Pharmaceuticals are up more than 48%! Volume is already more than 8x the company's 30-day average volume! Last night, Arena announced positive results from a phase two clinical trial of one of their non-cannabinoid products. Arena was recently added to the Horizons Marijuana Life Sciences ETF for their work in the cannabinoid biotech space. Today's pop in Arena is helping to send shares of HMMJ up 2.15% on the day.
CURE Pharmaceuticals Inc. (OTC:CURR)
This morning, CURE Pharmaceuticals announced that the company has entered into an agreement to collaborate on cannabinoid and personalized medicine research with Therapix Biosciences and Assuta Medical Centers. As of midday trading Tuesday, shares of CURE Pharmaceuticals are down more than 1% on very light trading volume. We'll be watching to see how shares of CURE trade through the rest of the day given this news.
Heliospectra AB (OMX:HELIO)(OTC:HLSPY)
Shares of Heliospectra AB closed today's trading in Sweden higher by 6.44%. In midday North American trading, shares of Heliospectra haven't traded yet. This morning, the company announced a $93,000 order from an Oregon based cannabis cultivator. We'll be watching to see if volume picks up in their OTC Markets listing given this news and the bullish action across the pond.
MariMed Inc. (OTC:MRMD)
In midday trading Tuesday, shares of MariMed are down more than 5% on lighter than average trading volume. This morning, the company announced they rose $5.2 million in a private placement. We'll be watching to see how shares of MariMed continue to react to today's news.
PUF Ventures Inc. (CSE:PUF)(OTC:PUFXF)
This morning, PUF Ventures announced that the company is launching a hemp-derived CBD product line. Shares of PUF Ventures are up roughly 3% on the CSE in midday trading Tuesday. The company's OTC Markets symbol is down more than 2%. We'll be watching to see how the markets digest this news through the rest of today's trading.
TerrAscend Inc. (CSE:TER)
Last night, TerrAscend announced that the company's wholly-owned subsidiary, Solace Health Inc. has received its license to cultivate pursuant to the ACMPR. Shares of the company are rising more than 9% in midday trading today. We'll be watching to see how shares close today's session given this news.
Therapix Biosciences Inc. (NASDAQ:TRPX)
Shares of Therapix Biosciences closed today's trading in Tel Aviv off the session highs, but still higher by 2.25%. The company's NASDAQ-listed ADRs are currently down roughly 3%. This morning, Therapix Biosciences announced that the company has entered into an agreement to collaborate on cannabinoid and personalized medicine research with CURE Pharmaceuticals and Assuta Medical Centers. We'll be watching to see if this negative turn continues in shares of Therapix as the trading day goes on.
Veritas Pharma Inc. (CSE:VRT)(OTC:VRTHF)
Yesterday, Veritas announced that they are looking at sites to conduct clinical trials. In midday trading Tuesday, shares of the company are down more than 2% on the CSE and up roughly 1% on the OTC Markets. We'll be watching to see if the markets take further interest in this release.
That's all for now, but The Daily Marijuana Observer will be sure to keep readers posted regarding important developments in these names and in the cannabis industry worldwide. Remember, Arena Pharmaceuticals and Therapix Biosciences can be traded commission free using the Robinhood App.
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