Looking at the Canadian cannabis market today, individuals will see a handful of cannabis stocks trading higher. That said, these same individuals will also see a few cannabis stocks moving lower, securing a spot in the red zone. We’re going to focus on the latter today.
It is important, as investors, to be aware of both the good and the bad. Therefore, for today’s cannabis watch, we are going to be taking a look at the following companies: Cannabis Wheaton and Global Cannabis Applications. Both companies are trading down nearly 2%.
The Canadian Cannabis Market: March 27, 2018.
Cannabis Wheaton (CVE:CBW)
The first company we are going to be looking at today is Cannabis Wheaton. This is a Vancouver, British Columbia-based cannabis company, founded in 1987. Considering we are four days away from the month being over, I would assume Cannabis Wheaton shareholders are disappointed with the direction the stock took today.
Cannabis Wheaton has had a relatively successful month, from announcing it entered into a strategic alliance with Province Brands Canada on March 15, to giving shareholders a positive update on its project with FV Pharma on March 16. The Cannabis Wheaton stock was also trading up nearly 6% earlier this week, on Tuesday, March 23, for no reason in particular.
Unfortunately, that streak of good luck appears to be slowing down. Currently, Cannabis Wheaton is trading at $1.61 on the Canadian Securities Exchange. This puts the stock down $0.03, or 1.83%. The company has a market capitalization of 645.34 million, as of right now.
Global Cannabis Applications (CNSX:APP)
Global Cannabis Applications is another British Columbia-based company, founded four years ago. On March 15, the APP stock soared after news broke that Global Cannabis was launching an artificial intelligence chatbot. The stock jumped nearly 10% at one point during the trading day.
Today, things are a little different. There is no news that would explain Global Cannabis trading down today, but it is, and it looks like it will be until the closing bell rings. Currently, Global Cannabis is trading at $0.30 on the Canadian Securities Exchange. This puts the stock down 1.61%.
Featured Image: twitter
