Cannabis Penny Stocks—Crop Infrastructure and The Supreme Cannabis Co

News from the cannabis penny stocks sector is not hard to find right now!

Many companies have only positive announcements to make and today we are looking at two penny stocks worthy of keeping an eye on for that same reason: The Supreme Cannabis Co and Crop Infrastructure, which are on our radar again this week.

So what’s all the fuss about?

Cannabis Penny Stocks

The Supreme Cannabis Co. (TSXV:FIRE) saw a fire lit under its stock by the end of last week. Yesterday, it had hit the highest price it had seen since May, reaching $1.83.

By the close of yesterday, the stock had slipped to $1.76, but minor was the fall in comparison to the gains it had made in only a few short days:

But what caused the stock leap? None other than the news that its wholly-owned subsidiary, 7ACRES, has signed a supply agreement for online sales with the Ontario Cannabis Store.

Furthermore, “Under the agreement, 7ACRES will also supply recreational cannabis to Ontario’s private retailers when the retail framework is approved and implemented by the Province.”

When recreational marijuana becomes legal on October 17th, “Ontario [is] expected to be the largest recreational cannabis market in the nation” and according to John Fowler, CEO of Supreme Cannabis, “this supply agreement is a major milestone for our Company.”

It would seem investors are in agreement with that. Will FIRE stock continue its surge?

CROP Infrastructure

Also closing yesterday on a high, was CROP Infrastructure (CSE:CROP), which informed investors it had added a new member to its executive advisory board—none other than Greg “Ganja Man” Douglas—the former CEO of the Jamaica Cannabis Licensing Authority (JCLA). CROP is looking to develop business on the Caribbean island.

CROP’s CEO Michael Yorke said the following:

“Greg has the invaluable ability to effectively interact with stakeholders from both the private and public sectors and his knowledge of the industry, both in the Caribbean and North America, is truly extensive and that will be of great benefit to Crop as it expands even further internationally,”

So keep an eye on these two stocks for the week and let’s see if the market continues in their favor!