Cannabis stocks are dropping again today, and it’s been a rough week and a half for these stocks. Investors dropped cannabis stocks on the day it was nationally legalized across Canada. Since that time the cannabis stocks have yet to fully recover. Let’s take a closer look at two cannabis stocks today, Crop Infrastructure and Golden Leaf Holdings to see their latest movements on the Canadian Securities Exchange (CSE).
Cannabis Stocks Today: Crop Infrastructure Corp (CSE:CROP)
Crop Infrastructure invests in, constructs, leases, and owns greenhouse facilities. These facilities provide real estate solutions for licensed cannabis producers in California and Washington. Crop was incorporated back in 2011.
Four days ago, Crop announced that its tenant in Wheeler Park, Washington began harvesting. ‘The Park’ is a 35,000 square foot cannabis greenhouse that has five flowering bays and is sited on nine acres.
Crop CEO, Michael Yorke, stated:
“CROP now has tenant harvests underway in two states, Washington and Nevada. Inventories are accumulating in California, and tenants are accepting bids from potential distributors and buyers to be sold under CROP Brands. Production levels are on target as are costs and we look forward to a strong finish to the year.”
According to Yahoo Finance, the cannabis stock is trading at $0.28 a share, down -$0.04 (-12.50%).
Cannabis Stocks Today: Golden Leaf Holdings, Ltd. (CSE:GLH)
Golden Leaf Holdings is headquartered in Toronto, Ontario, and through its subsidiaries, produces, distributes and sells cannabis. The company also does research and development of real estate.
Ten days ago, the cannabis company released an updated press release of a previous press release in which the company stated the funding was in USD, but it should have been labeled as CAD.
Nearly a month ago, Golden Leaf announced it has added a new green apple flavor to its CBD fruit chews. Golden Leaf’s existing flavors include Tangerine, Tropical Fruit, Kiwi Strawberry, and Acai Berry.
The new flavor is made of hemp-derived cannabidiol (CBD) isolate and real fruit.
“Our customers kept asking when we would have a CBD-only Fruit Chew, and we listened. The new Green Apple flavor is a great addition to the Golden Fruit Chew product line and we expect it to resonate with consumers looking for functional, delicious, health and wellbeing-focused edibles. The fact that it is hemp-derived, adds an additional appeal to this CBD-only product. As cannabis consumers continue to demand more non-smokable options, our focus is on using the highest-quality distillates, ingredients, and components to produce the best possible products,” said William Simpson, founder of Chalice Farms and chief executive officer of Golden Leaf Holdings.
According to Yahoo Finance, GLH is currently trading at $0.19 a share, down -$0.01 (-5.00%).
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