Stocks Today: Cannabis Stocks Surprisingly Down on the CSE

Stocks Today

Recreational cannabis will be nationally legalized across Canada starting tomorrow. Canada will become the second country to legalize recreational adult-use cannabis nationally. However, some Cannabis stocks seem to be trending downward on the market presently. Let’s take a closer look at a pair of cannabis stocks today on the CSE.

Integrated Cannabis Company Inc. (CSE:ICAN)

Integrated Cannabis is headquartered in Vancouver, BC, and is also known as iCannaCo. The cannabis company focuses on the development, manufacturing, marketing, and distribution of botanically-based consumable products in Canada and internationally. 

The company was originally incorporated back in 2011 as a mining company but switched gears to become a cannabis company in June of 2018.

Integrated Cannabis announced its Fall 2018 collaboration to launch its CBD products in Colorado. 

John Knapp, CEO of Integrated Cannabis, said:

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“Between our Sprays, vapes and beverages, all infused with CBD, we will be able to offer a well-rounded variety of products that complement each other and provide health benefits for consumers. This is an excellent opportunity to combine marketing efforts and get out into the public to bring awareness and education on the benefits of CBD and the many innovative ways to deliver it.”

Integrated remains one of those cannabis stocks today that is trading in the red. According to Yahoo Finance, ICAN is currently trading at $1.65 a share, down -$0.08 (-4.62%).

Crop Infrastructure Corp (CSE:CROP)

Crop Infrastructure is a cannabis company that is headquartered in Vancouver, BC. Crop invests in, constructs, owns, and leases greenhouse facilities to licensed cannabis growers in the US.

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Five days ago, CROP announced its California tenant has finished its harvest of the entire 30,000 sq ft production area. The crop tally stands at 2,100 pounds of various cannabis products. CROP will close its first revenue very shortly. 

CROP Infrastructure CEO, Michael Yorke, stated:

“CROP is now only steps away from first revenue as the tenant’s sales cycle has been initiated. Of particular significance too, we can also report that the tenant’s temporary cannabis licenses have now been converted to a permanent California state license. CROP looks forward to having its California operations rapidly becoming profitable.”

According to Yahoo Finance, CROP stock is currently trading at $0.44 a share, down -$0.03 (-7.37%). 

It remains unknown at this time if these cannabis stocks will rebound before the market closes.

Featured Image: Depositphotos/© shirotie