The cannabis penny stocks index looks a lot nicer today. Finally, we have shares beginning to rebound after a crazy-volatile few weeks.
Cannabis Penny Stocks: Namaste Technologies (TSXV:N) Leads
Leading the pack today is Namaste Technologies—shooting up with an increase of nearly 16% at the time of writing. This has been a long time coming for Namaste as it eagerly climbs back up to Septembers highs of $3.74.
Selling for $2.00, N stock is on the way. The stock climb is attributed to the company closing it’s bought deal today. Namaste Technologies sold off a total of $17.25 million units of its company at a price of $3.00 per unit. It has made capital of $51.75 million as a result.
Cannabis Penny Stocks: OrganiGram Holdings (TSXV:OGI)
With an 8.40% increase in the last 24 hours, OrganiGram Holdings is in second place.
Stocks are selling for $5.42 at the time of writing, making OGI just above the penny stocks range.
Falling a whopping 40% in ten days, OrganiGram stock was hit very hard by the cannabis downturn.
However, what could be turning this stock around is that OrganiGram is set to move into Germany with its 25% acquisition of Pharma GmbH (ACG). ACG is a Germany-based medical cannabis company, taking advantage of a growing marijuana demand in Germany.
Also, don’t forget, operating in Germany will provide OrganiGram with a gateway to other European markets. That’s strategy for you!
Cannabis Penny Stocks: GrowGeneration Corp (OTCQX:GRWG)
GrowGeneration is up 5.05% and is selling for $3.37 at the time of writing. Only 10 days ago, this penny stock was worth $4.39. It is paring those losses as investors keep an eye on this one.
Moving into 2019, GrowGeneration is expecting to reap the benefits of its recent acquisition of HeavyGardens.com, an online seller of hydroponic and grow supplies. The website has over 100,000 views per month and is estimated to generate over $5 million in sales for GrowGeneration.
Cannabis penny stocks are back in the green. Check back in tomorrow to see if they remain there!
Featured Image: Depositphotos/© ijeab