4 Canadian Cannabis Stocks Thriving in Poor Market Conditions

The Canadian cannabis stocks on our list have experienced bullish volume and price momentum during the past week or two

SmallCapPower | May 13, 2019: With recent volatility in the stock market, many cannabis stocks have performing poorly over the past week. Today we’ve identified four Canadian cannabis stocks that have performed well over the past seven days, despite the recent volatility. We also looked at the 7 Day Average Daily Volume of these stocks relative to their 30-Day Average Daily Volume. A higher 7 Day Average Daily Volume suggests a bullish outlook the stock.

*Share prices as at close Thursday, May 9, 2019, data obtained from S&P Capital IQ

For Our Complete Coverage Of Canadian Marijuana Stocks Click Here    

Ovation Science Inc. (CSE:OVAT) – $0.62

Ovation Science is a skincare research and development company that provides pharmaceutical-grade topical cannabis products for the medical and recreational global market. Through its patented Invisicare ® technology, Ovation develops industry-leading transdermal and topical cannabis products using a licensing/royalty business model. The Company’s newly-launched line of skincare products, ARLO Beauty, is aimed at fighting the signs of aging using hemp-derived cannabidiol (CBD) and its patented Invisicare® drug delivery technology. Ovation Science is backed by over 20 years of research and development, focusing on transdermal and topical drug delivery systems.

  • Market Cap: $14.4 Million
  • One Week Return: 12.7%
  • 7 Day Average Daily Volume: 74,000
  • 30 Day Average Daily: 56,000

SOL Global Investments Corp. (CSE:SOL) – $2.60

SOL Global Investments is an international investment company with a focus on the cannabis industry in legal U.S. states. Its strategic investments and partnerships across cultivation, distribution, and retail complement the Company’s R&D program with the University of Miami. SOL has investments with companies such as ECH Ltd, Verano Holdings LLC, OG DNA Genetics Inc, and Greenlight Pharmaceuticals Limited.

  • Market Cap: $122.7 Million
  • One Week Return: 16.1%
  • 7 Day Average Daily Volume: 293,000
  • 30 Day Average Daily Volume: 237,000

CannaVcell Sciences Inc. (CSE:CNVC) – $0.29

CannaVcell Sciences is a company based in Vancouver BC and holds the exclusive worldwide license for the proprietary and patent protected BioHarvest technology. The Company is currently the only industrial large-scale plant cell growth technology capable of directly and continuously producing the cannabis active ingredients without needing to grow the plant itself. On April 4, 2019, the Company announced the achievement of an important milestone of multiplying cannabis cell tissues on solid media.

  • Market Cap: $28.0 Million
  • One Week Return: 48.7%
  • 7 Day Average Daily Volume: 440,000
  • 30 Day Average Daily Volume: 211,000

48North Cannabis Corp. (TSXV:NRTH) – $1.08

48North is a vertically-integrated cannabis company that specializes in the health and wellness market. In Ontario, the Company operates 86,000 sq. ft of indoor-licensed cannabis production from their two facilities. The Company has an expanding portfolio of brands such as Avitas, a single-strain vaporizer cartridge, and Latitude, a platform for women’s cannabis. Contingent on Health Canada approval, the Company announced on December 5, 2018, it is hoping to operate the Good Farm, which is a 100-acre organic farm for sun-grown cannabis. This would be the first open-air cannabis grow-op in Canada and should decrease production costs, as solar energy would replace expensive lighting arrays and heating systems. The Company announced on January 24, 2019, that is expecting to begin outdoor cultivation in June 2019.

  • Market Cap: $162.4 Million
  • One Week Return: 20.0%
  • 7 Day Average Daily Volume: 2,325,000
  • 30 Day Average Daily Volume: 1,971,000

Ubika Research/SmallCapPower has received compensation from OVATION Science Inc. and Canna-V-Cell Sciences Inc to provide analyst research coverage. For full disclosure please visit here >>

Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

To read our full disclosure, please click on the button below: