It’s Monday, and unfortunately, not every cannabis stock is starting the week off in the green zone. Specifically, Global Hemp Group and Nutritional High traded down on the market today. Why, though? What happened? Is there a single piece of cannabis news responsible for both cannabis stocks making their way over to the red today? Let’s see what we can find out.
Cannabis Stocks | Global Hemp and Nutritional High Down, Down, Down
- Global Hemp Group (CNSX:GHG)
According to Google Finance, at 3:48 p.m. EDT, Global Hemp Group was trading at $0.16. This means the stock was down 8.82% at the time.
It isn’t surprising that Global Hemp is trading down today, considering the stock was one of the biggest marijuana stock losers on Friday. If investors went into the weekend pessimistic of the stock, I doubt two days off did anything to change that mentality.
Further, Global Hemp Group hasn’t made an announcement since May 22, so that could be playing into the stock’s struggle. After all, it’s difficult to compete with companies that are making announcement after announcement.
- Nutritional High International (CNSX:EAT)
At 4:00 p.m. EDT, according to Google Finance, Nutritional High International was trading at $0.48. This means the stock was down 8.65% at the time. Nutritional High remains a small-cap company, with its market cap sitting at less than 140 million.
Sadly, Nutritional High’s winning streak has come to an end. Last week, on Wednesday and Thursday, Nutritional High was one of the biggest cannabis stock gainers. Today, the stock ended the day down nearly 10%. Quite the change of events, right?
There also doesn’t seem to be an explanation for the more than 8% decline. It’s unfortunate considering Nutritional High was doing so well last week, but that’s the market. Sometimes a stock is up, sometimes its down. All we can do is wait, see the direction the cannabis stock takes tomorrow and during the rest of the week.
Were you surprised to these two cannabis stocks in the red zone today? Let me know!
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