Some of the top traded companies on the TSX Venture Exchange today included cannabis companies; the trades, however, appeared to be sells rather than buys, causing the following selected cannabis companies to be down for the day.
Newstrike Resources Ltd.
Newstrike Resources Ltd (TSX.V:HIP) (BERLIN:ON8) is a producer of medical cannabis. Newstrike is licensed for cultivation by Health Canada through its wholly owned subsidiary Hemisphere Pharmaceuticals. On the TSX Venture Exchange, Newstrike ended the day with 16,271 trades, ranking the company as the number 1 trader on the TSX Venture Exchange for the day. However, Newstrike stock experienced a decline of $0.80, or 27.12%, closing out at $2.15 compared to Tuesday’s closing price of $2.95.
Cannabis Wheaton Income Corp.
Cannabis Wheaton Income Corp. (TSX.V:CBW) (MUNICH:3KF) is an investment company focusing on the Canadian cannabis industry. Cannabis Wheaton ended the day with a total of 6,961 stock trades on the TSX Venture Exchange, ranking as number 3. Cannabis Wheaton, too, ended the day lower than yesterday, closing at $2.37 compared to yesterday’s close of $2.52. That’s a $0.15 decline, which translates to -5.95%.
OrganiGram Holdings Inc.
OrganiGram Holdings Inc. (TSX.V:OGI) is involved with the production of medical marijuana in Canada. Today, OrganiGram ranked as the fourth top traded company on the TSX Venture Exchange, experiencing a total of 5,765 stock trades. Despite its trades, the company declined by $0.31, or 5.74%, closing at $5.09 compared to yesterday’s closing price of $5.40.
The Supreme Cannabis Company
The Supreme Cannabis Company (TSX.V:FIRE) has been at the center of the cannabis space since 2014 and is looking to become Canada’s leading cultivator of consistently great commercial cannabis. Supreme Cannabis placed eighth on the TSX Venture Exchange in terms of trade volume, trading a total of 3,121 times. The company’s stock declined by $0.15, or 4.89%, closing at $2.92. The previous closing price was $3.07.
The Hydropothecary Corporation
The Hydropothecary Corporation (TSX.V:THCX), a licensed producer and distributor of medical marijuana, traded a total of 3,077 times, ranking as number 9 on the TSX Venture Exchange. The sell trades were enough to make the stock decline by $0.02, or 0.48%, to close the day at $4.19 compared to the previous close of $4.21.
On the whole, cannabis stocks weren’t the top gainers today despite being some of the hottest traders on the TSX Venture Exchange.
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