Tokers & Jokers | A Turbulent Day For Cannabis Stocks

 

Thursday was a mixed bag for cannabis stocks with only a few high rollers closing out the day.

Green Growth Brand’s (CSE: GGB) (OTCQB: GGBXF) interest in a hostile takeover of Aphria Inc (NYSE: APHA) has been surrounded in a great deal of controversy. The two companies have denied recent allegations of insider self-dealing. Green Growth Brands was up 0.19% with shares trading at $3.40  on the OTC. Aphria (NYSE: APHA) was trading down 0.67% at $5.97.

After a recent announcement to partner with Ginkgo Bioworks to develop rare cannabinoids, Cronos Group (NASDAQ: CRON) jumped 2.03% to $11.54.

It was a tough day for Canopy Growth Corp. (NYSE: CGC). Company shares slid 2.8% to $28.11.

Tilray (NASDAQ: TLRY) and EnWave Corporation (TSXV: ENW) (FSE: E4U) announced the two companies have signed a royalty-bearing commercial sublicense with The Green Organic Dutchman Holdings Ltd. (OTCMKTS: TGODF) (TSE: TGOD) which will allow TGOD the right to use EnWave’s Radient Energy Vaccum dehydration technology to dry cannabis flower.

Tilray (NASDAQ: TLRY) was trading down 0.65% to $70.

The news benefitted EnWave  (TSXV: ENW) (FSE: E4U) the most with shares trading up 3.85% at $1.35 on the TSXV.

After announcing that the company is issuing a quarterly dividend of $0.35, Innovative Industrial Properties Inc. (NYSE: IIPR) closed down 1.81% at $45.08.

The Green Organic Dutchman (OTCMKTS: TGODF) (TSE: TGOD) ended the day down 1.53% and trading at $1.93 on the OTC.

Aurora Cannabis (NYSE: ACB) was down 1.91% ending the day at $5.14.

Acreage Holdings Inc. (OTCMKTS: ACRGF) (CNSX: ACRG.U) recently announced the opening of its first “The Botanist” cannabis dispensary in Massachusetts. The stock was up 1.3% and trading at $20.15.  

GW Pharmaceuticals (NASDAQ: GWPH) was recently endorsed by JP Morgan analyst Cory Kasimov who gave the company a bullish rating with a 32% rise in target price. GW Pharmaceuticals was trading down 1.31% at $99.69.

After a wall street prediction that Hexo Corp. (OTCMKTS: HYYDF) (TSE: HEXO) will top 2009% year-over-year sales growth the company was trading up a massive 7.27% and closed the day trading at $4.12 on the OTC.

Organigram Holdings Inc. (OTCMKTS: OGRMF) (CVE: OGI) fell 0.60% to $4.16.

MJardin Group Inc. (OTCMKTS: MJARF) (CSE: MJAR) climbed 4.75% to $3.69 on the OTC.

Flowr Corp (OTCMKTS: FLWPF) was down 0.17% to $3.19.

Cresco Labs (OTCMKTS: CRLBF) (CSE: CL) closed down 1.04% at $6.66.

Auxly Cannabis Group Inc. (OTCMKTS: CBWTF) had a rough day, trading down 8.46% to $0.65.

After announcing the opening of a new Florida location, iAnthus Capital Holdings (OTCMKTS: ITHUF) climbed 2.1% to $4.34.

Though the company hasn’t issued any press releases for nearly two weeks, Namaste Technologies Inc. (OTCMKTS: NXTTF) (TSXV: N) has been up nearly 40% on the TSX-V for the first two trading sessions of 2019. Namaste was trading up on the OTC as well, climbing 1.97% to $0.78.

MariMed Inc (OTCQB: MRMD) closed the day on a high note, climbing 5.37% to $3.73

Monday Sunniva Inc (CSE: SNN) (OTCQB: SNNVF) recently announced the closing of its 100% acquisition of LTYR Logistics, LLC. Sunniva was up 1.06% and trading at $2.95.

Golden Leaf Holdings Ltd (CSE: GLH) (OTCQB: GLDFF) was the biggest winner on the OTC, climbing 15.56% and trading at $0.14.

CannTrust Holdings Inc. (OTCMKTS: CNTTF) (TSX: TRST) was down 0.93% on the OTC and closed trading at $5.15.

Origin House (OTCMKTS: ORHOF) (CNSX :OH) ended the last trading session up 4.87% at $4.95.

New Age Beverage Co. (NASDAQ: NBEV) was trading up 2.08% and closed at $5.40.

Horizon’s ETFs Management Canada Inc. (TSE: HMMJ) was down 1.45% and trading at $14.93.

ETFMG Alternative Harvest ETF (NYSEARCA: MJ) climbed 0.076% to $26.44

The Horizons Marijuana Life Sciences Index ETF (OTC:HMLSF) was down 0.41% and closed trading at $11.09.

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