Marijuana penny stocks are up and down this morning on both US and Canadian exchanges. At the end of last week, stocks were dropping, and it seems only a few have rebounded this morning. It remains unknown at this time why these stocks have corrected.
Today, we’ll take a look at a pair of marijuana penny stocks that are trading green. If you’re looking to add a few penny stocks to your portfolio, you may want to put these two on your watchlist.
MariMed Inc. (OTCQB:MRMD)
MariMed is a cannabis consultation company that is located in Newton, Massachusetts. The company consults for design, operation, funding, development, and optimization of cannabis cultivation.
This morning the marijuana penny stock announced that it has converted its initial $30 million purchase of debentures into GenCanna common stock. Back in November 2018, MariMed closed an agreement with GenCanna Global USA.
Bob Fireman, CEO of MariMed, said:
“MariMed will continue to be a source of capital and experience for GenCanna as it looks to expand its hemp cultivation to more than 10,000 acres, as well as to develop new facilities to process the biomass. In return, GenCanna will provide MariMed Hemp with a dedicated supply of the finest GMP-quality CBD for new brands of CBD products to be introduced by MariMed Hemp.”
According to Yahoo Finance, the marijuana penny stock is trading at $4.02 a share, up +$0.02 (+0.55%).
GrowGeneration Corp. (OTCQX:GRWG)
GrowGeneration is based out of Denver, Colorado. The company operates retail hydroponic stores. The company offers various products for farming such as lighting, plant nutrients, hydroponic equipment, and soil. The company previously served home growers of organic fruits and vegetables but now has its place in the cannabis industry.
Year-to-date, the marijuana penny stock is up nearly