Cannabis penny stocks have been trending on the Canadian stock markets for months. It seems investors have forgotten temporarily about the other markets that have remained strong consistently over the past decades, such as healthcare penny stocks.
Many healthcare companies and pharmaceutical companies have also been exploring cannabis, to ride the popularity wave. Some have even switched their companies over to cannabis altogether.
Still, healthcare isn't going anywhere, and one healthcare penny stock is trading high in the green today on the TSXV. Let's take a closer look as to why that is.
Healthcare Penny Stocks: Relevium Technologies Inc. (TSXV:RLV)
Relevium Technologies is based out of Montreal, Quebec, and acquires businesses or assets within the healthcare and wellness market. It focuses specifically on e-commerce and wellness services.
Relevium was formerly known as BIOflex Technologies Inc but changed its name back in December of 2015.
This morning, the company was requested by the IIROC (Investment Industry Regulatory Organization of Canada) to confirm that it hasn't released any recent news to account for the recent increase in the company's shares.
"We are very pleased with the Company's progress to date and are very excited about the prospects for our future. I certainly look forward to sharing more news on our progress," said Aurelio Useche, the Company's CEO.
This year, Relevium has made progress in its OTC nutraceutical business. The healthcare penny stock has expanded to the UK and Europe and is progressing well in its application process to obtain a health Canada approval for its project.
The company's recent share spike on the market today may just be an investor excited about the future of Relevium and others following suit.
RLV Stock Movement
According to Yahoo Finance, the healthcare penny stock is trading at $0.155 a share, up $0.025 (19.23%). The stock's movement has been all over the place today.
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