Emerald Health Therapeutics, Wayland Group, and Terra Tech are among the biggest cannabis penny stocks today! The market is on a sector-wide bull-run as of this morning, but there is no obvious catalyst for the turnaround.
That’s penny stocks for you!
Cannabis Penny Stocks: The Wayland Group
Ontario’s Wayland Group (CSE:WAYL) is our biggest gainer today. Wayland—a vertically integrated cultivator and processor of cannabis—is up 10.3% and selling for $1.29. It has operations in Canada and Munich, Germany.
Two days ago, the company announced that it had created a new role of ‘General Counsel’ on its managing team. Matthew McLeod will now assume this role.
A qualified and highly experienced lawyer, McLeod brings with him “merger and acquisition experience,” and this spells success for investors as Wayland Group continues its global expansion.
On the new position, McLeod said:
“The management team and the board of directors are an impressive combination of industry leading talent and ambition, and I look forward to helping Wayland continue its expansion and growth”
Cannabis Penny Stocks: Emerald Health Therapeutics
Emerald Health Therapeutics (TSXV:EMH) is also doing well today. Up 8.15% and selling for $3.85, Emerald’s gains could be attributed from a green light it received only two days ago.
The TSX Venture Exchange granted it conditional approval for its joint venture with San Diego’s Emerald Health Bioceuticals. Called Emerald Health Naturals, the joint venture will offer a new product line and revenue stream for both parties.
>> Cannabis Penny Stocks: Penny Stocks are Down, Big Four are Up
We will see how this joint venture evolves in the coming weeks and how this penny stock will react to it.
Cannabis Penny Stocks: Terra Tech
Up 8.49% and selling for $1.15, Terra Tech (OTCQX:TRTC) is another high-flyer on the index today. Terra Tech is an American vertically integrated cannabis producer with a strong focus on adult-use product. It recently signed an LOI with Golden Leaf Holdings (CSE:GLH), which will hopefully increase company prospects. However, the agreement still needs far more definition, and TRTC stock has been yo-yo-ing lately.
It may be concerning to investors that Terra Tech has yet to report revenue growth and/or profit margins; despite this, this penny stock is up over 8% today. However, recent trends suggest it won’t remain on a high for very long.
Featured Image: Depositphotos/© Wavebreakmedia
