TYHT - Four Marijuana Stocks Making Moves On Tuesday
CORAL GABLES, FL / ACCESSWIRE / March 19, 2019 / When talking about the marijuana stock market, more often than not, people can typically count on the fact that cannabis companies which grow cannabis flower will usually sit at the top of the charts in the market. Having said that, solely focusing on cannabis producers completely overlooks companies with ancillary operations in the cannabis sector. These companies could be anything from packaging to digital, all of which still encompass an important role in the process of getting cannabis products into the hands of consumers. When looking for lower volatility stocks with the potential for impressive gains, cannabis companies in the ancillary sect of the industry could be worth looking into. ParcelPal Technology Inc (PTNYF) (PKG), Shineco Inc (NASDAQ: TYHT), Harvest Health & Recreation Inc (HRVSF), and Innovative Industrial Properties Inc (NYSE: IIPR) represent 4 marijuana stocks testing their limits on Tuesday.
ParcelPal Technology Inc (PTNYF) (PKG) is a technology-driven logistics company purposed with connecting consumers to the goods they love. At a time in society where people simply don’t have the time to take care of everything over the course of a day, ParcelPal insisted they step in and make life easier for the consumer. The Company created an on-demand marketplace platform where customers can shop for the products and items they want/need, and, rather than travel to the store and waste time, the customer need only indicate a location for delivery, and within the hour, a ParcelPal courier will have their order.
In recognition of the growing excitement surrounding the cannabis sector, ParcelPal Technology Inc (PTNYF) (PKG) last week announced that it had signed into a cannabis distribution agreement with Kiaro, a Vancouver-based cannabis retailer. This marks the Company’s second strategic partnership to manage cannabis deliveries through the omnichannel platforms of Canadian retailers.
Following the announcement, Kelly Abbott, President, and CEO of ParcelPal Technology Inc (PTNYF) (PKG), said, ''cannabis delivery is expensive and often through antiquated courier services – with consumers waiting over a week to receive their items. With ParcelPal, customers will receive their cannabis products safely within an hour. Our technology enables seamless integration with any cannabis retail outlet or eCommerce platform.''
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Shineco Inc (TYHT), a producer and distributor of Chinese herbal medicines, organic agricultural produce, and other health plant-based products in China, yesterday announced that the Company has established a wholly-owned subsidiary, Beijing Tenjove Newhemp Biotechnology Co,. Ltd on March 13, 2019, to capture growth in the industrial cannabis market.
Yuying Zhang, Chairman, and CEO of Shineco, said, ''we believe that the new business line of industrial cannabis will likely enrich and draw on the Company's longtime experience in the comprehensive utilization of hemp plants and position the Company to become one of the world's leading experts in the industrialization of hemp-based plants. We expect our plan to create greater value and return to our shareholders and investors."
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Harvest Health & Recreation Inc (HRVSF), a vertically-integrated public cannabis company, announced earlier this month a grant of stock options pursuant to the stock option plan of the Corporation, whereby the Corporation has granted a total of 12,350,250 stock options to certain officers, directors, employees or consultants of the Corporation.
According to the specific details of the announcement, each stock option, granted on March 13, 2019, will entitle the holder thereof to purchase one common share of the Corporation at a price of CND $10.20 per share until March 13, 2029.
For More Information On Harvest Health & Recreation Inc, Click Here
Innovative Industrial Properties Inc (IIPR), one of the first real estate companies on the New York Stock Exchange focused on the regulated cannabis industry, last week announced results for the fourth quarter and year ended December 31, 2018, the second full year since Innovative Industrial commenced real estate operations and completed its initial public offering in December 2016. During the Company’s fourth quarter, IIP generated rental revenues of approximately $4.7 million in the quarter, representing a 111% increase from the prior year's quarter.
In October 2018, the Company completed an underwritten public offering of 2,990,000 shares of common stock, including the exercise in full of the underwriters' option to purchase an additional 390,000 shares, resulting in net proceeds of approximately $113.9 million, after deducting the underwriters' discounts and commissions and offering expenses.
For More Information On Innovative Industrial Properties Inc, Click Here
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