The last day of trading for the week is now over, and Canadian cannabis stocks were both sinking and floating today. For today’s cannabis watch, we are going to be looking at a total of 3 cannabis stocks, two of which ended the session in the green zone.
Canadian Cannabis Stocks | Friday, May 11, 2018
On Friday, both Global Cannabis Applications (CNSX:APP) and Nutritional High International (CNSX:EAT) witnessed their stocks move higher. Considering Global Cannabis managed to jump more than 10%, we’re going to focus on this Canadian cannabis stock first. Meanwhile, we will be ending this article by looking at True Leaf Medicine (CNSX:MJ), who ended the day down nearly 2%.
Global Cannabis Applications (CNSX:APP)
According to Google Finance, as of 4:00 p.m. EDT, Global Cannabis was trading at $0.36 on the Canadian Securities Exchange. This put the stock up 25.86%. Vancouver-based Global Cannabis has a current market cap of 19.56 million.
Global Cannabis has remained fairly quiet this month. That said, Global Cannabis did make a keynote address last weekend, at the 7th Annual InvestorIntel Summit. Further, on May 4, Global Cannabis announced that it will be involved in a Lithuanian trade mission later in May. The trade mission will be going to China. According to Brad Moore, CEO of Global Cannabis, the team is very honored to be apart of this “very important trade mission to China.”
Nutritional High International (CNSX:EAT)
According to Google Finance, as of 4:00 p.m EDT, Vancouver-based Nutritional High was trading at $0.40 on the Canadian Securities Exchange. This put the stock up 1.28%. The cannabis company has a current market capitalization of 97.86 million.
Unlike Global Cannabis, Nutritional High has a justifiable reason for being in the green today. Yesterday, Nutritional High provided an update on Calyx Brands. For those who don’t know, Calyx is Nutritional High’s subsidiary. According to the update, Calyx saw record-breaking revenues in April. Calyx CEO Dakota Sullivan stated that the team is “very proud” of the progress Nutritional High’s subsidiary made last month.
True Leaf Medicine (CNSX:MJ)
According to Google Finance, as of 4:00 p.m. EDT, True Leaf Medicine was trading at $0.55. This put the stock down 1.79%. This means True Leaf has joined the list of cannabis stocks that ended the day in the red zone. True Leaf Medicine has a market cap of 52.04 million.
Unlike Global Cannabis, True Leaf Medicine has not been quiet this month. This makes today’s drop even more surprising. The Vernon-based company announced on May 3rd that the construction of its cannabis cultivation facility has commenced. The facility will be in Lumby, British Columbia. It is scheduled to finish by fall of this year. Further, on May 7, True Leaf announced that it will soon be unveiling its hemp-based cat treats. This is the first time the company has ever done anything like this. The last day the company will be displaying these treats is today, in Germany.
The Takeaway
Were you surprised by the direction any of these cannabis stocks headed in today? Let me know.
Featured Image: twitter
