The Canadian cannabis market is doing well today. Despite it being Friday the 13th, which could have spooked the marketplace, there are numerous cannabis stocks moving into green territory today. We are going to be looking at two of these companies, in particular.
The Canadian Cannabis Market: Who’s Seeing Green?
Golden Leaf Holdings (CNSX:GLH)
Founded seven years ago, Golden Leaf Holdings has made quite the name for itself in the Canadian cannabis market. Even though the company has been relatively quiet this month, the stock price has not been overly affected.
Golden Leaf Holdings has not announced anything today, and yet, the stock is trading up nearly 20%. As this writing, Golden Leaf Holdings is trading at $0.28. This puts the stock up $0.04, or 17.02%. The company currently has a market cap of less than 160 million. The stock has received 710 stock trades thus far.
So what caused the jump? No one can be entirely sure. Do you know what we can do, though? Speculate and investigate. Perhaps the Golden Leaf stock is trading higher today because the Toronto-based cannabis company had a successful month of March. This may have caused investors to feel optimistic about the future of Golden Leaf Holdings.
Here’s what I mean when I say successful: on March 8, Golden Leaf Holdings disclosed a new line of cannabis-infused fruit chews. This may have stimulated the stock market as rolling out new products has proven in the past to act as a game changer for various companies. Secondly, on March 27, Golden Leaf Holdings signed a Letter of Intent with BlackShire Capital. This Letter of Intent gives GLH the right to launch the Chalice Farms Franchise Model. Again, good things are on the horizon for the cannabis company.
Nutritional High International (CNSX:EAT)
Unlike Golden Leaf Holdings, Nutritional High International is moving higher on the market for a specific reason.
Currently, Nutritional High International is trading $0.42. This puts the EAT stock up $0.04, or 12.00%. The stock has received 458 stock trades so far today. The Toronto-based company currently has a market capitalization of less than 115 million. It is likely that this increase is a direct result of the company’s announcement made yesterday.
What was the announcement? Well, on Thursday, Nutritional High informed the public that it received the approval of its conditional use permit application. It was approved by the City of Sacramento, Community Planning Department.
Featured Image: twitter
