A lot of the times when micro cap and small cap stocks have a huge price swing, it’s typically a result of some sort of headline. However, this is sometimes not the case, and instead a stock can have an amazing day of trade on no news at all, and that’s exactly what happened for the following OTC healthcare stocks during today’s session.
OTC Healthcare Standouts:
Biome Grow Inc. (OTCQB:BIOIF) absolutely took off later in the day as shares hit a session high of $0.1126/share (+126.55%) on what seems to be just normal trade activity. The interesting part of this rally is that it happened on more than twice the average volume when looking at the 50-day average, and there's still an hour left in the session.
Biome is a vertically integrated Canadian cannabis licensed producer, distributor and retailer. It has three cultivation facilities, one fully licensed and operational in Nova Scotia and two under construction in Ontario and Newfoundland. The company has five retail licenses in Newfoundland with stores opening in 2019 and is building a 10,000-square-foot extraction and edibles production facility in Prince Edward Island.
Through a major long term supply agreement with CBD Acres Mfg Inc., Biome will become a distributor of CBD products in 2019, serving both domestic and international markets. Finally, Biome owns and operates WeedVR, a virtual educational tool focused on enhancing the customer retail experience.
THC Therapeutics Inc. (OTCPK:THCT) is also having a huge day on no news. The volume is pretty much on par with the 50-day average, however we decided to include it in this report because of the recent rally this stock has been riding for a few weeks, coming from a 52-week low of $0.021/share in December to currently trading at $0.27/share (+58.82% DoD) as we head into the last hour of trade.
THC is a United States-based company. It is focused on developing dHydronator, a sanitizing herb dryer. The main function of the dHydronator is to accelerate the drying time of an herb while sanitizing it. The dHydronator can be used to dry a variety of herbs, and it has been specifically tested for use with cannabis. It will reduce the drying time for cannabis from 10-14 days down to less than 14 hours while reducing the viability of microbial contaminants.
