Cannabis Penny Stocks: Cannex Up, Aleafia Down

penny Stocks

Today on the cannabis penny stocks market we are looking at Aleafia Health Inc. and Cannex Capital Holdings Inc. Both are Vancouver-based, but one is up, and one is down.

Let’s check them out.

Cannabis Penny Stocks: Aleafia Health (TSXV:ALEF)

Aleafia Health is in the red. At the time of writing, the company is down almost 4.5%, and shares are valued at $3.20 CAD. This is somewhat surprising as Aleafia has become one of the most watched penny stocks as of late.

The cannabis penny stock company is gunning for a NASDAQ listing and even submitted an application to the body and the SEC only last week.

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A listing would expand its shareholder base, make it more attractive to institutional investors, and “provide unparalleled liquidity and place Aleafia among a small handful of Canadian cannabis companies.” It would join the ranks of fellow major exchanger listees Canopy Growth Corp (NYSE:CGC) and Tilray (NASDAQ:TLRY).

Along with a potential listing, which would “rapidly accelerate” business plans, the company is expecting a sizeable yield of 38,000 kilograms of cannabis flower next year.

Currently, Vancouver-based Aleafia lists on the Toronto Stock Venture Exchange. This cannabis penny stock has some ways to go yet. Only beginning to show its potential, it hit its all-time high of $3.97 in September.

>> Stock Price: Mining Penny Stocks Rebound on the TSXV

Cannabis Penny Stocks: Cannex Capital Holdings Inc. (CSE:CNNX)

In the green today, Cannex Capital could be showing potential. Currently up a whopping 12.50% on the day, and selling for $0.72 CAD, this cannabis penny stock is definitely one to watch. 

Vancouver’s Cannex Capital reported its fiscal Q1 2019, finished on July 31st. The results showed a revenue of $3.4 million USD and EBITDA of $1.8 million.

The focus of the cannabis penny stock at present is the cannabis operations in Washington State, with expansions planned in the near future. Cannex CEO Anthony Dutton said:

“Washington is a critical component to our long-term strategy: plentiful power and water, fantastic infrastructure and workforce and some of the world’s best farmland provide quality raw materials for future extraction and expansion.”

Featured Image: Depositphotos/© PromesaStudio