The stock has performed similarly to the broader CBD industry in 2022. Its Daily Edge tincture product with the MLB provides post-workout recovery and improves sleep and focus. The company sells CBD oils, capsules, and gummies, just to name a few products. It is the official CBD product of Major League Baseball. This Colorado-based CBD company was established in 2013 and trades on both the Toronto Stock Exchange and the US Over the Counter markets under the ticker symbol OTC: CWBHF.Ĭharlotte’s Web made history earlier this year by being the first CBD company to sign a partnership with a professional sports organization. Given the current environment of the crypto market, it is not surprising to see Hive’s stock price trading at lower levels than usual. Keep in mind that the price of Hive’s stock generally follows the price of Bitcoin and Ethereum. Hive has also taken significant stakes in companies like DeFi Technologies and Network Media Group, the latter of which is a major NFT brand.Īs far as Canadian penny stocks go, Hive has the potential for a fairly high floor if it allocates its crypto reserves into further revenue streams. Hive exclusively mines the benchmark cryptocurrencies in Bitcoin and Ethereum, as well as Ethereum Classic.Īs of November 2022, Hive had the equivalent of $68 million in Bitcoin mined and stored, a figure that will only continue to rise and grow in value. ![]() Temperatures are also naturally cooler in the Nordic region, so it is easier to keep mining rigs and data centers at a lower temperature. Iceland, in particular, has an extremely efficient green energy infrastructure that is cheap and readily available, making it a popular destination for crypto mining. These factors make Hive one of the top penny stocks in Canada.īased out of Vancouver, BC, Hive has operations across North America, as well as in Scandinavian countries like Sweden and Iceland. Hive is a company that operates directly in the crypto mining industry and was the first mining company to list publicly in Canada. There may be no industry quite as trendy right now as blockchain technology. ![]() The company’s Macusani project in Peru is the fifth-largest undeveloped Uranium Deposit in the world.Īmerican Lithium Corp is a play on the rising demand for both lithium and uranium moving forward, which are both viable paths for the company to grow its business for the foreseeable future. With American Lithium Corp, you also get a well-established company that has been operating since 1974. The global demand for lithium has skyrocketed over the past decade and will only increase from here as the world shifts towards these secular trends.ĭespite the company’s name, American Lithium Corp is based in Vancouver, BC, and has a diverse geographical portfolio that includes a newly acquired mine in Nevada. ![]() We have all heard that Lithium is an essential component for rechargeable batteries in things like electric vehicles and smartphones. Get The Best Stock Trading Platform in Canada ($50 Trade Credit) Top 10 Penny Stocks in Canada To Buy in 2023īelow are 10 of the hottest penny stocks you can buy in Canada. Related: Free Stock Trading Apps in Canada. In Canada, there is no official OTC market, so Canadian penny stocks still trade on the Toronto Stock Exchange or other Canadian exchanges. They are easily identifiable because they usually trade on the OTC or Over-The-Counter markets rather than the NASDAQ or the New York Stock Exchange in the US. Penny stocks go by other names as well, like microcap stocks or pink sheet stocks. These stocks appear cheap and inexpensive, but the risk of investing in these generally outweighs the potential reward. Can You Buy Penny Stocks in a TFSA or RRSP? What is a Penny Stock?Ī penny stock is exactly as it sounds: security that trades on the public markets with a low market cap and a share price that is generally priced below $5.00.ĭon’t be fooled by their name, while some penny stocks do trade for actual pennies, most trade between $1.00 to $5.00.
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