Recreational adult-use cannabis has now been nationally legalized across Canada, but Canadian cannabis stocks today are all mostly trading in the red. Let’s take a closer look at the cannabis stocks today that are trading in the green.
Cannabis Stocks Today: Charlotte’s Web Holdings, Inc. (CSE:CWEB)
Charlotte’s Web is headquartered in Boulder, Colorado, and develops and distributed help-based cannabidiol (CBD) wellness products. The company is newly incorporated back in 2018.
Charlotte’s Web Holdings just announced that it has surpassed 3,000 retail locations across the US. At the end of 2017, the cannabis company sold products in around 2,000 locations.
Hess Moallem, CEO of Charlotte’s Web, said:
“While we are thrilled to beat our retail expectations for the year, we know this is just the beginning of our continued expansion both domestically and worldwide. We are deeply committed to the millions of people who benefit from Charlotte’s Web and we will continue breaking new ground to ensure our products are made available in as many retail locations as possible.”
The cannabis stock today is among the few right now that are trading in the green. According to Yahoo Finance, CWEB is currently trading at $18.05 a share, up +$0.52 (+2.97%).
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Cannabis Stocks Today: OrganiGram Holdings Inc. (TSXV:OGI)
OrganiGram Holdings Inc. is headquartered in Moncton, New Brunswick, and through its subsidiaries sells and produces medical cannabis to patients and physicians in Canada. OrganiGram offers marijuana plants, seeds, and cannabis oil. The company was founded back in 2013.
OrganiGram Holdings announced this morning that it has completed a definitive agreement to acquire 25% of alpha-cannabis Pharma GmbH (ACG). This agreement has extended OrganiGram’s presence in Germany.
“As we continue to build the framework of our international medical business, finding the right partners in the right markets has been a priority for our company,” said Greg Engel, CEO at OrganiGram.
The cannabis company also announced it has closed the sale of Trauma Healing Centers (THC) to Harvest Medicine Inc, which is a medical cannabis clinic group located in Edmonton and Calgary. THC is a multi-disciplinary clinic network that currently provides medical cannabis care and education to thousands of patients in Nova Scotia, Ontario, and New Brunswick.
According to Yahoo Finance, OGI is currently trading at $7.33 a share, up +$0.04 (+0.55%).
What do you think about cannabis stocks today? After all, it is #legalizationday.
Featured Image: Depositphotos/© Wavebreakmedia
