It’s Friday, and past 1 PM PT, which means that the stock market is now closed. But how did cannabis stocks do today? Was there specific cannabis news announced? Well, there were a few cannabis stocks who ended the day in the red zone, but there were also a number that ended the day trading up. Examples of the latter are Lineage Grow Company and Nutritional High International.
Cannabis News | June 15, 2018
In this article, we’re going to be looking at Lineage Grow company, which is based in Toronto, Ontario, and Nutritional High International, which is based in Vancouver, British Columbia. Both ended the day in the green, but Lineage Grow did significantly better out of the two cannabis stocks.
Lineage Grow Company (CSE:BUDD)
According to Google Finance, at 3:59 p.m. EDT, Lineage Grow Company was trading at $0.24. This means the stock was up 9.30% at the time. Lineage Grow is considered to be a small-cap company, as its market cap is less than $2 billion. In fact, it’s less than $11 million. Lineage Grow has a market capitalization of $10.53 million.
So, did the company announce anything today that could explain the nearly 10% increase? The answer to that, in short, is no. Lineage Grow hasn’t made an announcement since Tuesday, which was the same day that it dropped to a new 52-week low. This was strange, considering Lineage Grow announced on the 12th that it had entered into an agreement to purchase Walnut Oaks, a California-based licensed producer.
It’s very possible that the market just needed a day to grasp the news, and that’s why the stock did well today.
Nutritional High International (CSE:EAT)
At 3:59 p.m. EDT, according to Google Finance, Nutritional High was trading at $0.46. This means the stock was up 1.10% at the time. Like Lineage Grow, Nutritional High is a small-cap company, with a current market cap of less than $135 million.
So, did Nutritional High announce anything today? The answer is the same as Lineage Grow: no, there were no announcements from Nutritional High. On a high note, however, the stock was one of the biggest cannabis stock losers yesterday, so at least it didn’t follow a similar pattern today.
The last announcement that Nutritional High made was on Wednesday, in which it provided an update on Calyx. For those who don’t know, Calyx is the company’s subsidiary.
The Cannabis News Takeaway
Were you surprised to see these cannabis stocks in the green today? Or would it have shocked you if they weren’t?
Featured Image: Twitter