Cannabis stocks are trending all in the green today! Last week, most marijuana stocks all plummeted after broad investor sell-offs occurred on both the US and Canadian markets. This week, however, it has been green all around. Let’s take a closer look at Crop Infrastructure Corp (CSE:CROP) and Cannabix Technologies Inc (CSE:BLO) today and their latest company movements.
Cannabis Stocks: Crop Infrastructure Corp.
Crop Infrastructure is based out of Vancouver, BC, and invests in, constructs, leases, and owns greenhouse facilities in California and Washington.
This morning the cannabis company announced that it has signed former Coca-Cola branding exec Arashdeep Singh to lead the company’s CannaDrink beverage line. Singh worked for Coca-Cola for over a decade and managed a $750 million CAD portfolio.
Arashdeep Singh, Head of Marketing at CannaDrink, said:
“For years, the benefits of cannabidiol have languished under a false stigma. With a welcome expansion of legalization, CannaDrink is committed to bring these products to the new age consumers. I am truly excited to be a part of this evolutionary journey.”
This recent news caused CROP shares to soar today. According to Yahoo finance, the cannabis stock is currently trading at $0.32 a share, up +$0.06 (+23.08%).
Cannabis Stocks: Cannabix Technologies Inc.
Cannabix Technologies is a technology company based in Burnaby, BC. The company develops marijuana breathalyzers for law enforcement and the workplace in North America. The cannabis technology company hasn’t released any recent news in over two weeks, but it is assumed they are trying to keep up with production and demand with recreational cannabis now legal across Canada.
BLO stock has also jumped on the CSE today. It may just be that the investors are buying up cannabis shares because there is green all around. According to Yahoo Finance, the cannabis stock is currently trading at $1.82 a share, up +$0.19 (+11.66%).
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