It’s Monday, and while the crypto market struggles, the cannabis market seems to be getting along reasonably well. There are a number of cannabis stocks currently in the green, including True Leaf Medicine International and Cannbix Technologies.
What happened, though? Did these companies report major cannabis news? Well, let’s do some investigating, see what we can find out.
Cannabis Stocks and Cannabis News | May 28, 2018
- True Leaf Medicine International (CNSX:MJ)
At 1:21 p.m. EDT, according to Google Finance, True Leaf Medicine International was trading at $0.53. This puts the stock up 1.92%. The cannabis company currently has a market cap of less than 1 billion, sitting at 50.49 million.
The British Columbia-based company has been pretty quiet this month, which means there is no specific reason for the stock to be in the green zone today. Not that shareholders are complaining, though. The last announcement True Leaf Medicine made was on May 7. It was on this day that True Leaf announced that it would debuting its new line of cat treats in Germany, all of which are hemp-based. The line was announced over the course of the next few days.
Perhaps the stock is trading up because the market is looking forward to another update about True Leaf’s new cannabis cultivation facility. The facility is being built in Lumby, B.C., and the last construction update came on May 3rd.
- Cannabix Technologies (CNSX:BLO)
According to Google Finance, at 1:26 p.m. EDT, Cannbix Technologies was trading at $1.76. This means the stock is 1.73%. Like True Leaf, Cannbix Technologies is considered to be a small-cap company because its market cap is less than 1 billion. Currently, the company’s market cap is just over 150 million.
Similar to True Leaf, Cannbix has been very quiet this month. In fact, the company hasn’t made a significant announcement since the end of April. Announcement or no announcement, it’s nice to see Cannabix join the other cannabis stocks in the green zone. We can only hope it will last.
The Takeaway
Check back in later this week for another cannabis watch!
Featured Image: Twitter
