Cannabis stocks are high volume traders on both the CSE and TSXV.
A large majority of the cannabis companies listed on the Canadian Securities Exchange and the Toronto Stock Venture Exchange traded in the green today. The top three volume traders on the CSE were all cannabis companies and five of the top ten volume traders on the TSXV were also cannabis.
We’ll begin with the CSE cannabis players.
Matica Enterprises Inc.
Matica Enterprises (CSE:MMJ) is a medical cannabis producer and distributor with a late stage ACMPR application with Health Canada for the province of Quebec. The company is also close to finishing a brand new 10,000 sq. ft. growing facility in Quebec. The facility will be fully climate controlled and will have an automated plant nutrient system, allowing for pure, high-quality production.
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Most recently, Matica Enterprises is ensuring that the facility’s security system is up to the standards of Health Canada’s latest revised security requirements.
Matica Enterprises closed the day at $0.43, which meant that the company experienced a stock increase of $0.09, or 26.47%, from the previous closing price of $0.34. The stock traded 1,262 times at a trading volume of 9.1 million. Matica Enterprises was the top volume trader on the CSE today.
Namaste Technologies Inc.
Namaste Technologies (CSE:N) is one of the largest global online retailers in the medicinal cannabis market. Namaste Technologies’ slogan is “We are the future of cannabis.” For Namaste, that future largely involves focusing on Namaste MD for the year of 2018. Namaste MD is a telemedicine portal that will connect patients with doctors. 2018 will also be the year that Namaste expands its product offerings.
At the end of January, Namaste announced that it would be forming a partnership with Emerald Health Therapeutics Inc. (TSXV:EMH).
Namaste Technologies finished the day trading at $1.94, which put the company’s stock up $0.25, or 14.79%, from the previous closing price of $1.69. The stock traded 3,459 times at a trading volume of 6.9 million. This put Namaste Technologies in rank #2 on Investors’ Hub’s list of top volume traders on the CSE for the day.
Friday Night Inc.
Friday Night (CSE:TGIF) is involved in cannabis cultivation and production. The company, while being a Canadian company, owns and controls cannabis and hemp-based assets in Las Vegas, Nevada. Friday Night is looking to expand its operations both within and outside of Nevada.
In Vegas, Friday Night has a 12,000 sq. ft. facility for cultivation and production, plus a 5,000 sq. ft. facility specifically designed for CBD-infused products. Friday Night is looking to expand its cultivation footprint in Nevada.
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Friday Night closed today at $0.70, putting it up $0.13, or 22.81%, from the previous closing price of $0.57. The stock traded 1,380 times with a trading volume of 6.2 million, placing Friday Night as the third largest volume trader on the CSE for the day.
Newstrike Resources Ltd.
Moving onto the Toronto Stock Venture Exchange, Newstrike Resources (TSXV:HIP) tops our list as a producer of medical cannabis. Newstrike is partnering with The Tragically Hip in order to build the next premier cannabis brand. Newstrike is focused on producing high-quality products and increasing its capacity to identify, design, build, and manage cannabis facilities in addition to its current facility.
Most recently, Newstrike announced a $50 million bought deal.
Newstrike Resources closed at $1.19 on the TSXV today, which meant the stock increased by $0.20, or 20.2%, from the previous closing price of $0.99. The stock traded 2,454 times at a trading volume of 6.8 million. Newstrike was ranked as having the second largest volume trade for the day on the TSXV.
Cannabis Wheaton Income Corp.
Cannabis Wheaton (TSXV:CBW) is a bit different than the other companies on this list. Cannabis Wheaton is an investment company that is involved in the cannabis industry. It is made up of a collective of entrepreneurs that are passionate about and experienced within the realm of cannabis. The company facilitates its growth through ethics, diversity, quality, and innovation.
Cannabis Wheaton will be expanding into Uruguay through a partnership with Inverell S.A.
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The company ended the day trading for $1.88, which puts its stock up $0.07, or 3.87%, from the previous closing price of $1.81. The stock traded 1,896 times at a trading volume of 3.1 million. Cannabis Wheaton was ranked as the 5th top volume trader for the day on the TSXV.
Harvest One Cannabis Inc.
Harvest One Cannabis (TSXV:HVT) is looking to break into the global cannabis industry. The company focuses on both medical and recreational uses of cannabis. Harvest One works with a three-prong approach, working with United Greeneries on the horticultural side of things and with Satipharm AG on the medical side of things.
Today, Harvest One announced its expansion targets of 20,000kg of dried cannabis flower capacity by the end of 2018. This is targeted to increase to 70,000kg by the end of 2019.
That resulted in the company closing the day at $1.23, which is up $0.13, or 11.82%, from the previous closing price of $1.10. The stock traded 1,003 times at a trading volume of 1.7 million. Harvest One was ranked as the 8th top volume trader for the day on the TSXV.
Cannabis companies were in full swing today on the CSE and TSXV, seeing strong trading volumes and nothing but green.
Featured image: Crain’s Detroit Business
