It’s Friday, and the cannabis stocks are soaring! Well, some of them are, especially Canadian cannabis stocks. Today, we are going to be looking at two cannabis stocks, both of which are flying high in the green zone. Specifically, we’re going to investigate whether there is any specific cannabis news that led these stocks in the direction they’ve found themselves in today.
Cannabis Stocks and Cannabis News | May 25, 2018.
- Leviathan Cannabis Group Inc. (CNSX:EPIC)
Leviathan Cannabis is the first cannabis stock we’re going to be looking at today. According to Google Finance, as of 12:35 p.m. EDT, Leviathan Cannabis Group was trading at $1.02. This puts the EPIC stock up 24.39%.
There is a reason Leviathan is in the green zone today, too. On Friday, the company released some positive cannabis news, updating its customers with more information regarding its Woodstock Transaction. Perhaps the stock shot up today because the cannabis market wasn’t expecting an update so soon. After all, the planned acquisition was only announced yesterday. The latter could also be the reason why the stock is up nearly 30%; the market could still be on a high from the initial announcement.
- Nutritional High International (CNSX:EAT)
This is another cannabis stock trading on the Canadian Securities Exchange, and while it may not be up nearly 30%, the EAT stock is up 3.85%, according to Google Finance. Why, though? Did the company announce some major cannabis news, like Leviathan did? The answer is no.
With that being said, however, Nutritional High has had a successful past couple of weeks, so the stock trading in the green is not a total surprise. In fact, on Wednesday and Thursday of this week, Nutritional High was one of the biggest cannabis stock gainers. Those two trading days came after Nutritional High announced that it would be expanding Calyx’s Southern California infrastructure.
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The Takeaway
Cannabis stocks can be pretty volatile, so it’s unclear which direction these two cannabis stocks will head in next week, or if there will be more cannabis news to announce. Keep your eyes peeled, though! If something is announced, it will probably have some sort of effect on the market.
Featured Image: twitter
