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.
GB Sciences, Inc. (OTC:GBLX)
This morning, GB Sciences announced that the company has contracted the services of Worldwide Clinical Trials, Inc. to assist the company in planning for the IND application process for its cannabinoid drug formulations. In early trading Monday, shares are down more than 2.5%. The Daily Marijuana Observer will be watching to see how the markets continue to digest today's news.
iAnthus Capital Holdings Inc. (CSE:IAN)(OTC:ITHUF)
Shares of iAnthus Capital are down nearly 1% in early trading on the CSE. The company's OTC Markets symbol is flat on lighter than average volume. This morning, iAnthus released an update on how changes in Vermont's marijuana laws are expected to benefit the company's partner there. The Daily Marijuana Observer will be watching to see if volume and volatility pick up in shares of iAnthus as the day goes on.
Invictus MD Strategies Corp. (TSXV:IMH)(OTC:IVITF)
After three straight days of gains last week, shares of Invictus MD Strategies Corp. continue to rise. In early trading Monday, shares are higher by more than 4% on both the TSX Venture and the OTC Markets. Last week, the company released an update on developments at AB Laboratories, AB Ventures and changes in their management team as well as announced that Acreage Pharms has broken ground on phase two of their facility. The Daily Marijuana Observer will be watching to see if the bullish action keeps up in shares of Invictus.
MedReleaf Corp. (TSX:LEAF)(OTC:MEDFF)
Earlier today, MedReleaf Corp. announced they are partnering with CannaKorp, Inc. to manufacture and distribute their CannaCloud pod-based cannabis vaporizer system in Canada. In early trading Monday, shares are roughly flat on the day. The Daily Marijuana Observer will be watching to see if volume and volatility pick up in shares of MedReleaf as the day goes on.
mCig Inc. (OTC:MCIG)
This morning, mCig announced that the company is expanding their cannabis packaging supply division in California. Shares of mCig are gaining roughly 5% in early trading. The Daily Marijuana Observer will be watching to see how the market continues to react to today's updates out of mCig.
Newstrike Resources Ltd. (TSXV:HIP)
Shares of Newstrike Resources are up more than 4% in early trading Monday. Earlier today, the company announced that its wholly-owned ACMPR licensed producer subsidiary, Up Cannabis Inc. has been granted a number of license amendments, including approval to produce cannabis oils. The Daily Marijuana Observer will be watching to see how the rest of the day plays out in shares of Newstrike Resources.
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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