Cannabis Stocks Fly High After Passing of the Farm Bill

Cannabis stocks were mostly in the green late Thursday after President Donald Trump signed the 2018 Farm Bill.  The bill will legalize the production of industrial hemp in the US.

After the announcement, Canopy Growth Corp. (NYSE: CGC) issued a statement that the company will officially participate in the American market.  Charlotte’s Web Holdings Inc. (OTCMKTS: CWBHF) was up 9.17% to $10.10. 

Canopy Growth jumped 7.8% in after-hours trading to $29.65. New Age Beverages Corp. (NASDAQ: NBEV) had a day of ups and downs finally closing out the day up 8.73% at $6.60.

Cronos Group (NASDAQ: CRON) was up 1.5% to $11.45 late Thursday, with Aurora rallying at 3.3% to $5.28. 

iAnthus Capital Holdings Inc (CSE:IAN) (OTCQB:ITHUF) was down 2.5% to $4.04.  After announcing the company was no longer interested in acquiring Terra Tech (OTCQX:TRTC), Golden Leaf Holdings Ltd (CSE: GLH) (OTCQB: GLDFF) dipped 1.5% to $.08.

Biopharmaceutical firm GW Pharmaceuticals (NASDAQ: GWPH) was surprisingly down 5.38% at $104.11. The company develops cannabis derived treatments for MS and epilepsy patients.

HEXO Corp. (OTCMKTS:  HYYWF) fell 10.41% to $0.87. Recently a lawsuit was filed against the company for mislabeling their products that led to a woman consuming more than she intended. 

Shares of MariMed Inc (OTCQB:MRMD were up nearly 2% to $3.04. The company is expanding its hemp production and stands to also benefit from the Farm Bill.

Aphria (NYSE: APHA) climbed 1.7% to $5.37 after announcing the company will expand to the Jujuy province in Argentina. 

After announcing two major partnerships this week with Novartis and Ab InBev, Tilray (NASDAQ: TLRY) added 2% peaking at $80.44.

22nd Century Group, Inc. (NYSE: XXII ) announced that the Farm Bill will greatly enhance the company’s research activities around low-THC cannabis. 22nd closed down 1.27% to $2.33, however rallied to as much as $2.46 in after hours trading.

Shares of Emerald Health Therapeutics Inc (CVE:EMH) (OTCQX:EMHTF) fell 11.17% to $1.77. 

Isodiol International Inc (OTCQB:ISOLF) (CSE:ISOL) was up 2.5% to $1.21.  CV Sciences Inc (OTCQX:CVSI) climbed nearly 3% to $4.73. 

ETFMG Alternative Harvest ETF (NYSEARCA: MJ) closed out the day down by 2.2% at $25.27. The North American Marijuana Index was down 4.39%. 

 

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