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.
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.
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.
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.”
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