We’ve had a rough few weeks for cannabis penny stocks… but the show must go on.
Some announcements today show how alive and kicking this market is (even if the stocks don’t want to reflect that). Cannabis penny stocks today include Namaste Technologies (TSXV:N), MariMed (OTCQB:MRMD), and a brand new CSE listing: PLUS Products (CSE:PLUS).
Cannabis Penny Stocks: Namaste Technologies
Namaste Technologies is down by nearly 10% at the time of writing and is selling for $1.86.
The company has just signed a Patient Services Agreement with Buds2go.ca. But what does this mean for Namaste?
Well, Buds2go is an online platform with a database of over 80,000 users and over 100,000 weekly sessions. With this signing, Buds2go will offer users access to medical cannabis consultations through Namaste’s online patient portal.
Also today, Namaste’s wholly-owned subsidiary Cannmart Inc. has signed a medical cannabis supply agreement with Rocky Mountain Marijuana Inc. (CSE:RMMI). Cannmart will purchase medical cannabis from RMMI to offer on its online platform.
And yet the Namaste penny stock is in the negative to the tune of 10%. Go figure.
Cannabis Penny Stocks: MariMed
MariMed has finalized its acquisition of BSC Group. Who is BSC? A well-renowned cannabis licensing, consulting, and operations management firm based in New Jersey.
The founding members of BSC will join the MariMed leadership team, and MariMed will take advantage of BSC’s vast network of highly specialized affiliates.
On the news, MariMed penny stocks are soaring; currently up 12%, they are priced at $3.92.
Cannabis Penny Stocks: PLUS Products
Debuting on the Canadian Securities Exchange is the new cannabis penny stock PLUS Products. The company successfully completed an IPO raising over $20 million CAD. Shares were priced at $3.25.
PLUS has two of the top 10 selling edible cannabis products in California.
With its IPO earnings, the company will begin construction on a food-grade cannabis edibles manufacturing plant with a capacity of $150 million in annual production.
Evolving from a privately held to a publicly traded company, PLUS Products has seen steady growth since entering California’s edibles market.
Cannabis penny stocks are always keeping busy. Will we see the market return to its former glory days of mid-2018?
Featured Image: Depositphotos/© Khakimullin