Cannabis penny stocks are looking exciting again this week. The majority are in the green. Two standouts from the group are The Green Organic Dutchman (TSX:TGOD) and Auxly Cannabis Group Inc (TSXV:XLY). The trend seems set to continue, so are we recovering from October’s market pressure?
Cannabis Penny Stocks: The Green Organic Dutchman (TSX:TGOD)
Without a doubt, TGOD stock is running away with it this week. Shares surged almost 35% on Monday, which was unexpected considering the amount of pressure this stock has been under since late September. The company is expanding internationally and is currently seeking out further international opportunities. The TGOD stock closed at $4.78 CAD yesterday.
Cannabis Penny Stocks: Auxly Cannabis Groups Inc (TSXV:XLY)
Vancouver’s Auxly Cannabis also went for a run yesterday. The stock surged nearly 10% and closed at $1.05 CAD.
The company recently closed its acquisition of Uruguay’s Inverell S.A—a federally licensed cannabis operator—and the move opens an entirely new market for Auxly.
Cannabis Penny Stocks: MPX Bioceutical Corporation (CSE:MPX)
MPX Bioceutical Corp was up almost 6% by Monday’s close. Selling for $1.09, this stock is expanding into the Maryland market with a handful of dispensary acquisitions.
MPX is a multinational penny stock company that has a foothold in both the medical and recreational cannabis markets. It recently announced an all-stock merger with iAnthus Capital Holdings Inc. (CSE:IAN).
Cannabis Penny Stocks: Cannex Capital Holdings Inc. (CSE:CNNX)
Through its subsidiaries, Cannex Capital leases real estate properties and supplies to cannabis cultivators, processors, and dispensaries. It is active in both the United States and Canada. With a market cap of $93.85 million, this penny stock is selling for $0.71 CAD on the Canadian Securities Exchange. The company added a cool 10% on Monday and looks set to continue the trend.
It definitely feels as if October’s market downturn is over. We’ve had a lot of green across the cannabis penny stocks market in recent days, and hopefully, those great losses will be pared. Fingers crossed that the uptrend continues.
Featured Image: Depositphotos/© albertyurolaits