The day after Thanksgiving, we should be thankful that the majority of the cannabis index is green. This includes some cannabis penny stocks that we will take a look at right now!
Cannabis Penny Stocks: Terra Tech (OTCQX:TRTC)
Who can ignore gains of 12%? Not this writer. Terra Tech is up that amount today, currently selling for $1.31. But what has caused the surge?
Perhaps this is a delayed reaction from investors to Terra’s recent LOI signing with Golden Leaf Holdings. As we discussed before, this is a merger that gives Terra Tech everything to gain.
But on the flip-side of that, there is concern over a lack of reporting from the company on its numbers. Investors aren’t even sure if the company is making a profit yet, because it hasn’t reported one!
So today’s gains remain somewhat of a mystery.
Terra Tech Corp is a vertically integrated retail, production, and cultivation marijuana operator focusing on adult-use cannabis products.
Cannabis Penny Stocks: Cannex Capital Holdings (CSE:CNNX)
And then there is Cannex. CNNX shares are up 12.25% at the time of writing. The reason for these gains is a little clearer, as the company has just secured a sizeable investment from Gotham Green Partners, LLC. The leading cannabis investor has just given Cannex Capital $32 million USD to help “accelerate growth and support multi-state expansion initiatives.”
With its new capital, Cannex is planning to acquire additional processing, distribution, and retail operations in new US states. It will build brand initiatives with existing and new brands and wipe off $9.4 million of its outstanding debt.
Cannabis Penny Stocks: Auxly Cannabis Group (TSXV:XLY)
Up almost 5% today and selling for $0.92 CAD, Auxly Cannabis Group is looking like it may just become one of the big ten cannabis retailers moving forward.
This stock is priced low despite the company’s rather sizeable $500 million market cap. Auxly has the means and the revenue to dominate, as it has business in the downstream, midstream, and upstream areas of the cannabis growing business. Alongside that, Auxly is well connected with a broad range of partners across the industry.
Featured Image: Depositphotos/© g0d4ather
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