Checking out the cannabis penny stocks market today, we have some companies still in the red. Has the market bottomed out? Will we see gains again soon?
Major brands are all down. The decline began before cannabis legalization in Canada on October 17th, and many companies have yet to recover. There have been momentary respites but nothing significant.
Even the red-hot CBD oil market can’t help stocks because Isodiol International Inc. is also down. Let’s take a look.
Cannabis Penny Stocks: Isodiol International Inc. (CSE:ISOL)
Isodiol International Inc. (CSE:ISOL) is currently selling for $1.59 CAD. Down nearly 10%, Isodiol is one of the biggest losers in the cannabis penny stocks market today.
Low Penny Stocks
At $1.59, this stock is surprisingly low. To put it in perspective of how low, back in March, ISOL stock was selling for $15.00.
Today’s price reflects a catastrophic downturn for this now cannabis penny stock in 2018. This is very surprising considering the growth of the CBD market. Akin to that, the company has had a very productive 2018, so you would have expected the opposite for ISOL stock. So why the dramatic loss?
Isodiol International
Isodiol International creates CBD-infused wellness products from cosmetics to health products. The company describes itself as a “global leader and innovator in CBD,” so why isn’t it shining in recent months?
Though its stock doesn’t reflect it, this company has had a big year.
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Isodiol received government approval from the United Kingdom’s Medicines and Healthcare Products Regulatory Agency (MHRA) for pure, natural CBD as an active pharmaceutical ingredient. It also completed an acquisition of KURE Corp and announced expansion plans.
The cannabis penny stock also acquired a turn-key brewing system and launched ISOCare in North America and Latin America. ISOCare is an innovative platform for the cannabis treatment industry. It is aimed at supporting physicians with monitoring their patients’ health.
The Take Away
At $1.59, this cannabis penny stock could be considered a steal for the savvy investor. But expect a waiting game. The length of this stock downturn could be off-putting, and the stock has a long climb ahead back to where it once was. However, with the CBD market as active as it is, this could be a possibility.
Featured Image: Depositphotos/© gpointstudio
