It's a pretty quiet day in the cannabis-related equity markets today. News is slow, and volatility has calmed across The Daily Marijuana Observer's global marijuana stock universe. That said, there are a few companies worth keeping an eye on heading into the weekend.
Friday Night Inc. (CSE:TGIF)(OTC:VPGDF)
In early trading Friday, shares of Friday Night Inc. are up more than 4% on the CSE. The company's shares on the OTC Markets are up fractionally. This morning, Friday Night Inc. announced that their 91% owned subsidiary, Infused MFG LLC achieved June revenues that were double the company's estimates. Last week, Friday Night Inc. announced that their other subsidiary, Alternative Medicine Association, achieved record revenues in the month of June. The Daily Marijuana Observer will be watching to see how shares of Friday Night Inc. trade through the rest of the day.
India Globalization Capital Inc. (NYSE:IGC)
Shares of India Globalization Capital are rising roughly 3% in early Friday trading. This morning, the company released their full year financial results and filed their 10-K with the SEC. The Daily Marijuana Observer will be watching to see how the markets continue to digest their earnings release.
Insys Therapeutics Inc. (NASDAQ:INSY)
In early trading, shares of Insys Therapeutics are falling more than 3%. Earlier this week, it was announced that more former employees have pleaded guilty to conspiring pay kickbacks to medical practitioners to prescribe a Insys drug containing fentanyl. After the close yesterday, health insurance company Anthem Inc. filed a lawsuit against Insys stating that Insys lied to Anthem about patients’ conditions and therefore received fraudulent reimbursements for their fentanyl drug Subsys. The Daily Marijuana Observer will be watching to see if this news continues to bring the bears into Insys shares.
Invictus MD Strategies Corp. (TSXV:IMH)(OTC:IVITF)
In early trading Friday, shares of Invictus MD Strategies Corp. are rising more than 5% on the both the TSX Venture and the OTC Markets. This morning, the company announced that Acreage Pharms has obtained development permits and broken ground on phase two of their cultivation facility. The Daily Marijuana Observer will be watching to see how the markets continue to digest this news.
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.
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