The marijuana stock market has seen a large bullish run over the course of the past few years, but especially in the past month or so. Over that time period, many new companies in the industry have been able to push forward with large amounts of innovation and new ideas for the betterment of the consumers who rely on them.

For investors, however, the industry has never been better. Acceptance of cannabis nationwide in the U.S. and especially in Canada has reached an all-time high. With the majority of U.S. states having some form of legal cannabis whether it be recreational or medicinal, more companies than ever are seeing success in the industry.

Vancouver, British Columbia-based Yield Growth is working in the cannabis wellness products market. By January 31, just one month after its retail sales launch, Yield Growth announced its Urban Juve skin care products were available for purchase in 20 retail locations across Canada.

The marijuana industry is growing at an extremely quick pace, and it's not hard to understand why. Following the legalization of recreational cannabis in Canada this past October, as well as steady legalizations at the state level in the U.S., the pot industry is now a legitimate business model. Since it's now a validated industry, investment dollars are pouring in, and so is demand for pot products.

Organigram Holdings Inc. (TSX VENTURE: OGI) (OGRMF), announced today that the Company has elected to exercise its right under the indenture (the “Indenture”) governing the Company’s 6.0% convertible unsecured debentures due January 31, 2020 (the “Debentures”) to convert (the “Conversion”) all of the principal amount outstanding of the remaining Debentures on April 1, 2019 (the “Conversion Date”) into common shares of the Company (the “Common Shares”).

Pursuant to the terms of the Indenture, the Company may force the conversion of the Debentures at the conversion price of $5.42 per Common Share when the volume weighted average trading price (“VWAP”) of the Common Shares on the TSX Venture Exchange (the “Exchange”) for 10 consecutive trading days exceeds $7.05.

New Hampshire, Florida move bills to legalize recreational cannabis 

Wednesday was a day of highs and lows when it came to cannabis stocks, with leading companies in the sector shaking off the gloom hitting Wall Street’s main markets before being dragged backward.

The North American Marijuana Index, which tracks top cannabis stocks in the US and Canada, fell 0.5% to hit 290.34.

Buds

At the top of the list of gainers was GW Pharmaceuticals (NASDAQ:GWPH), a British biopharmaceutical company known for its cannabinoid-based treatments for seizures, which climbed 14.2% to $174.65.

Many Canadian cannabis companies have begun to report their latest financial results following recreational sales.

Due to the lofty valuations, many cannabis company investors are looking for solid revenue growth.

The four Canadian marijuana stocks we have weeded out have average revenue growth of 362% quarter over quarter, with share price appreciation of ~6% over the past month.

Increases in resource revenue and personal income tax have put Alberta on track to finish the fiscal year with a $6.9-billion deficit, $1.9 billion lower than forecast.

The NDP government's third-quarter fiscal update, released Wednesday, contains a strong indication that Albertans will not see a budget prior to the spring election.

It includes an update on the government's "path to balance" by 2023-24, a feature never before included in a quarterly update.

Finance Minister Joe Ceci deflected reporters' questions about the timing of the 2019-20 budget.

"I am preparing a budget. It's the premier's decision when the writ is dropped," he said. "But there will be a Budget 2019."

According to the recent release of statistics data by the national statistics agency, the highest sales numbers of cannabis are made by Atlantic Canadians. In their study, Statistics Canada agency analyzed legal cannabis purchase rates for each Canadian province for the first quarter year of pot legalization up to the end of the year 2018.

They found that the residents of Prince Edward Island spend the most on legal cannabis (average of $21.95 per capita) after then come in second the residents of Nova Scotia, who spend on average $17.87 on pot. These data coincide with the study of purchase rates for the first six weeks of legalization, where the results showed the same two provinces with the highest rates of pot sales per capita.

Marijuana penny stocks have corrected this morning, and most are trading red on US and Canadian markets. This morning, Koios Beverage Corp (CSE:KBEV) is booming and is seeing share percentage gains of 100%. Fire & Flower Holdings Corp (TSXV:FAF) is also trading green.

Today, we’ll explore why these two cannabis penny stocks are trending upward, while the rest of the market is falling.