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!
Algae Dynamics Corp. (OTC:ADYNF)
Earlier today, Algae Dynamics Corp. announced that they have entered into a letter of intent with Canadian licensed producer, Bonify in order to outline the terms of a partnership relating to the production of cannabis oils. In early trading Thursday, shares of Algae Dynamics are flat on volume that is already double the company's 30-day average volume. We'll be watching to see how the markets continue to react to today's news.
Shares of Intec Pharma Ltd. were big winners in yesterday's trading session on news the company is completing a private placement to fund a phase three trial of their Parkinson's drug. In early trading Thursday, shares of Intec Pharma are rising more than 4%. We'll be watching to see how the markets continue to react to this news as well as the recent bullish action in shares of Intec.
This morning, Evercore ISI initiated research coverage of GWPH at 'outperform' with a price target of $154. Shares of GW Pharmaceuticals closed at 102.87 yesterday, representing roughly 49% of upside to Evercore ISI's price target. In early trading Thursday, shares of GW Pharmaceuticals are down roughly 0.25%. We'll be watching to see if any more volatility comes into the market given this bullish analyst coverage.
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