Based on recent news and market action in early trading, here are a few marijuana stocks worth keeping an eye on in the rest of today's trading session. Happy Trading!
Digipath Inc. (OTC:DIGP)
Earlier this morning, Digipath Inc. announced the company's financial results for their third fiscal quarter ended June 30, 2017. Revenues of $389,000 were up 47% from the third quarter of last year, although revenues fell 22% compared to the second quarter of this year. The company attributed the sequential decline in revenues to customers accelerating testing in order to complete sales prior to an increase in sales taxes. In early trading Wednesday, shares of Digipath are up fractionally.
Related: Digipath Receives Rec. Testing License, Renews Med. License
Intec Pharma Ltd. (TASE:NTEC)(NASDAQ:NTEC)
Shares of Intec Pharma are up more than 7% in late trading in Israel. The company's U.S. listed shares are up more than 14% in early North American trading. Last night, Intec announced that the company is doing a secondary offering. This morning, Intec updated the release to add that they are offering 10.6 million ordinary shares at a price of $4.70 per share. We'll be watching to see how the markets continue to react to this news of a secondary offering, based on the early action, it would appear the markets are taking this news as a bullish sign.
Related: 7 Things To Know About Intec Pharma's Q1'17 Earnings
Liberty Health Sciences Inc. (CSE:LHS)(OTC:SCQBD)
This morning, Liberty Health Sciences, Aphria's Florida investee that recently listed on the CSE announced that the company has entered into an agreement to acquire 36 acres of land. The company plans on constructing additional greenhouses on the property. On this news, shares of Liberty Health Sciences are flat in early trading on both the CSE and the OTC Markets. We'll be watching to see if market action picks up as the trading day goes on. Shares of Liberty Health Sciences are down roughly 34% from their opening price of $1.50 CAD on their first day of trading (July 26th).
Related: Florida Medical Marijuana Operator to Trade On CSE
MYM Nutraceuticals Inc. (CSE:MYM)(OTC:MYMMF)
In early trading Wednesday, shares of MYM Nutraceuticals are up more than 5% on the CSE. The company's OTC Markets listing is higher by roughly 5%. Earlier, MYM announced that the company has obtained building permits to begin construction of their Laval, Quebec production facility. We'll be watching to see if this early bullish action can continue given news of progress towards a new facility.
Related: MYM to Build 1.5 Million Square Foot Greenhouse in Québec
Tetra Bio-Pharma Inc. (CSE:TBP)(OTC:TBPMF)
Earlier, Tetra Bio-Pharma announced that they have been approved for trading on the TSX Venture exchange, and that they will be voluntarily delisting from the CSE in order to move to the TSX Venture. The markets seem to like this news. In early trading Wednesday, shares of Tetra Bio-Pharma are up more than 5% and more than 9% on the CSE and OTC Markets respectively.
Related: Tetra Bio-Pharma's Corporate Update & Annual Mtg. Results
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. Be sure to subscribe to one or more of our free newsletters so you never miss an important marijuana update. Don't be a stranger, connect with The Daily Marijuana Observer on Facebook, Twitter, StockTwits and Instagram!
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