Cannabis Stock News: Cannabis stocks had a pretty good day, but that doesn’t mean every stock was trading in the green zone. In fact, there were a few that found themselves in the red. Specifically, Cannabis Growth Opportunity and Golden Leaf Holdings. Why, though? Did these two companies announce some cannabis news that didn’t sit well with the market? Let’s see what we can find out.
Cannabis Stock News | May 25, 2018.
- Cannabis Growth Opportunity (CNSX:CGOC)
According to Google Finance, at 2:06 p.m. EDT, Cannabis Growth Opportunity was trading at $1.65. This puts the stock down 0.60%.
Founded in 2017, Cannabis Growth Opportunity is an investment company, based in Toronto, Ontario. The company has been relatively quiet this month, with the last announcement made on May 15. Perhaps, with the cannabis news that was released today, Cannabis Growth fell a bit behind, while those companies that made announcements moved into the green. That said, the last announcement was pretty positive.
On Tuesday, May 15, Cannabis Growth announced that it invested in the WMMC, otherwise known as the Whistler Medical Marijuana Corp. For those unfamiliar with these two companies, this is considered to be big news in the Canadian cannabis sector. Why? Because Whistler is one of the strongest brands in the cannabis sector right now, so this investment is likely to benefit Cannabis Growth in the long run.
- Golden Leaf Holdings (CNSX:GLH)
At 3:59 p.m. EDT, according to Google Finance, Golden Leaf Holdings was trading at $0.26. This puts the stock down 1.92%.
Like Cannabis Growth, Golden Leaf Holdings doesn’t appear to have a specific reason for being in the red zone today. In fact, unlike Cannabis Growth, Golden Leaf Holdings actually made an announcement yesterday, and it was a positive one at that. Therefore, it’s unclear as to why GLH is down today.
Regarding yesterday’s announcement, Golden Leaf Holdings announced that it had hired its new VP of Operations. The person chosen for the job is Ryan Purdy. Furthermore, Golden Leaf Holdings also made an announcement on Wednesday, in which it stated that it will be posting its Q1 2018 financial results next week, on May 30.
The Takeaway
Check back in next week to see where these cannabis stocks are sitting, and to see if we have more cannabis stock news to report. I would assume we will, considering GLH’s financial reports are out next week. See you then!
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