Emerald Health Therapeutics (EMH:TSXV) topped all other marijuana-related stocks on the TSX Venture Wednesday.
The company’s shares jumped 29% Wednesday on heavy volume of 2 million shares traded to close at$0.42 per share. Emerald Health traded as low as $0.15on October 19th and hit a high of $0.45 today. This stock along with a handful of marijuana-related stocks on the TSX Venture have been on fire since the Liberals won a majority government on October 19th.
We have been writing about this trend for weeks and most recently published an article titled Marijuana Stocks takeover TSX Venture.
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Marijuana stocks light up TSX Venture
Marijuana-related issuers on the TSX Venture have accounted for a huge percentage of the overall volume on the TSX Venture of late.
For example, on Wednesday, the TSX Venture traded a total of 61.4 million shares.
Five stocks, OrganiGram Holdings, Canopy Growth, Emerald Health Therapeutics, Maple Leaf Green World and Aphria accounted for 14.32 million shares or nearly 25% of the total volume on the exchange Wednesday.
OrganiGram Holdings up over 500% from October low
OrganiGram Holdings, a stock we’ve written about numerous times in the past few weeks, was the most liquid, trading 6 million shares to a high of $1.42 Wednesday. Its high today, represents a more than 500% increase from its October low. OrganiGram finished the day at $1.18, still closing up 18% on the day.
Marijuana Stocks go Parabolic in November’s Stock Challenge
Member ‘funtime’ was in second place with a 63.39% combined average return. Followed by ‘challengerguy70’s 60.59% return, ‘Buchan bull’s 48.90% return and wlll’s 43.43% return.
Long-time member and two-time Champion, including last month, ‘releroux‘ is in 5th with a 45.16% return thus far. All of these members are banking on OrganiGram to continue its winning ways.
What is so shocking about these high returns is that we are only 3 days into November.
All of these members are chasing ‘micronta’ who sat in first place with a stunning 73.57% combined average return Wednesday. There are 3 past Stock Challenge Champs in the Top 6 and 7 in the Top 20.
With tons of time left in November’s Stock Challenge it will be interesting to see if these high-flying marijuana stocks can hold onto their gains.