It’s the second day of a brand new month, and the Canadian cannabis market saw both green and red today. The markets are now closed, but we can see that both Global Cannabis and High Hampton Holdings ended the trading day up. Meanwhile, Wildflower Marijuana closed the day down around 4%.
For today’s cannabis watch, we are going to be looking at the three cannabis companies mentioned above.
The Canadian Cannabis Market: Wednesday, May 2.
- Global Cannabis Applications Corp. (CNSX:APP)
Headquartered in Vancouver, British Columbia, Global Cannabis was last seen trading at $0.26 around market close. This put the stock up $0.040, or 18.60%. The Canadian cannabis company has a market capitalization of less than 1 billion.
Global Cannabis Applications had a busy month of April. Kicking the month off, Global Cannabis published a White Paper on its medical cannabis technology platform. Then, on April 9, Global Cannabis disclosed that it had signed an MOU with OS2, which is a TheraCann joint venture. Towards the end of the month (April 17, to be exact) the Vancouver company stated that it had signed a Collaborative Agreement with the Foundation of Cannabis Unified Standards (‘FOCUS’). The aim of this agreement is for Global Cannabis and FOCUS to create legal cannabis projects in forthcoming markets.
Now, it appears Global Cannabis is going to be just as busy this month. Today, May 2, Global Cannabis disclosed that it will be making a keynote address at the Annual InvestorIntel Summit in Toronto this week. This is the 7th summit, and it will be taking place on May 3rd and 4th. The location of the Annual InvestorIntel Summit is the Omni King Edward Hotel.
It could be argued that Global Cannabis ended Wednesday’s trading day in the green because of this announcement.
- High Hampton Holdings (CNSX:HC)
Yet another Vancouver-based company, High Hampton Holdings ended Wednesday’s trading at $1.15. This put the cannabis stock up 7.48%. Like Global Cannabis, High Hampton Holdings has a specific reason for why it was seeing green today.
On May 2, High Hampton Holdings disclosed that it entered into a binding term sheet with financial services company Eight Points Asset Management. This is significant news as it means High Hampton will now have access to a massive distribution hub in West Sacramento. This acquisition is also allowing High Hampton Holdings to have cannabis industry experts added to its portfolio.
- Wildflower Marijuana (CNSX:SUN)
This Canadian cannabis stock didn’t do as well today. Wildflower Marijuana ended the trading day at $1.37 on the Canadian Securities Exchange. This put the stock down 3.52%. Wildflower Marijuana has a market cap of 60.34 million.
Perhaps Wildflower Marijuana was down on the cannabis market today because it hasn’t made any market moves since early April. Wildflower Marijuana, a company that focuses primarily on designing cannabis products, has not made a significant announcement since April 23. This was when Wildflower completed its acquisition of multiple cannabis licenses in Los Angeles.
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