It’s happened on more than one occasion that our favorite cannabis penny stocks move in the opposite direction of the big four cannabis companies. It paints an interesting index picture when this happens.
Aurora Cannabis (TSX:ACB), Canopy Growth (TSX:WEED), Tilray (NASDAQ:TLRY), and Aphria (TSX:APHA)—all with market caps somewhere between $4 and $12 billion CAD—are sporting gains somewhere between 1–3%. These are not the biggest price increases we’ve ever seen, but it really contrasts against our cannabis penny stocks, which are all currently showing losses!
Looking at the other end of the scale, here are some penny stocks in the red.
Cannabis Penny Stocks: In Red
The Supreme Cannabis Company (TSXV:FIRE) is down 3.68% and is selling for $1.57. This is despite recently releasing record revenues for Q1 2019 of $5.14 million, which is a 229% increase from Q1 2018.
America’s KushCo Holdings (OTCQB:KSHB) is down 2.14% and is selling for $5.04. KushCo sells packaging, containers, and other ancillary products for the cannabis industry. Business has been booming this year, and things were looking up for KushCo on Monday when shares climbed to $5.46. But alas! It has lost some of those gains.
Namaste Technologies (TSXV:N) is down just under 1% today. Selling for $1.47 at present, this penny stock has continually bounced around in the last two months. At one point in early October, Namaste was aiming to uplist to the NASDAQ. The company runs an online ‘everything’ cannabis store, Cannmart, and also offers customers online cannabis consultations and prescriptions through its NamasteMD portal.
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Liberty Health Sciences (CSE:LHS) is down just shy of 3% and is selling for $1.34 at present. Based in Florida, this dispensary offers pharmaceutical-grade medical cannabis. The company is supplied by none other than Aphria.
CV Sciences (OTCQB:CVSI) is down 1.53% and is selling for $4.19. The company runs two distinct divisions: pharmaceutical and consumer products. The pharmaceutical division is developing synthetically‐formulated cannabidiol‐based medicine, using cannabidiol as the active pharmaceutical ingredient. CV’s consumer products division creates botanical‐based cannabidiol products for everyday use.
Elsewhere
Elsewhere in the cannabis penny stocks market, companies Vivo Cannabis (TSXV:VIVO), Golden Leaf Holdings (CSE:GLH), and Terra Tech (OTCQX:TRTC) are also in the red.
Featured Image: Depositphotos/© Wavebreakmedia
