Cannabis stocks ended the day mixed after a wild ride Tuesday afternoon, with Tilray standing out as the day’s major winner.
Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) was up on the OTC by 2.6% and trading at $3.78. The company recently placed a bid for a hostile takeover of Aphria Inc (NYSE: APHA) who declined the offer. Aphria is scheduled to release its earnings report for Q2 2019 on January 11. Investors should handle this stock with extreme care — Aphria is entering into a class-action lawsuit in February that may be damaging to the company’s reputation. The company was trading down 1.25% at $6.33.
Cronos Group (NASDAQ: CRON) shares were down 0.32% and trading at $12.36 at the end of trading.
Preparing to enter the US hemp market Canopy Growth Corp. (NYSE: CGC) is positioning itself to become a CBD market leader. The company was trading up 2.49% at $29.64.
The Green Organic Dutchman Holdings Ltd. (OTCMKTS: TGODF) (TSE: TGOD) announced it has appointed Dr. Caroline MacCallum and Jacques Dessureault to its Board of Directors, adding medical pharmaceutical experience to the company’s team. Shares were trading down on the OTC by 3.91% at $1.84.
EnWave (OTCMKTS: NWVCF) (TSXV: ENW) (FSE: E4U) took a dive on the OTC by 2.29% and closing out at $1.04.
With its share lockup period ending January 15, Tilray (NASDAQ: TLRY) shares could face pressure very soon. Cowen analyst Viven Azer reiterated her outperform rating on the company with a target price of $150 by the end of 2019. Company shares climbed a whopping 15.8% to $83.26 at the end of trading.
Innovative Industrial Properties Inc. (NYSE: IIPR) was up 3.73% and trading at $51.51.
Aurora Cannabis (NYSE: ACB) fell 4.37% to $5.03 after the company issued below-consensus revenue guidance for the fiscal second quarter. The company expects to report somewhere between $50M to $55M for the quarter that ended Dec. 31, 2018. The number is significantly lower than the $67M analysts were projecting.
Shares of Neptune Wellness Solutions (NASDAQ: NEPT) were trading day up 2.15% to $3.32.
Acreage Holdings Inc. (OTCMKTS: ACRGF) (CNSX: ACRG.U) recently announced the opening of its first “The Botanist” cannabis dispensary in Massachusetts. The company completed the $67M acquisition of Miami’s Nature’s Way earlier last week. Acreage was trading down 0.089% to $24.21.
GW Pharmaceuticals (NASDAQ: GWPH) jumped 2.4% to $117.41.
Hexo Corp. (OTCMKTS: HYYDF) (TSE: HEXO) closed down 3.03% to $4.65 on the OTC. Russell Stanley, an analyst for Beacon Securities reiterated his bullish stance for the company, setting an $11 price target.
Treehouse Real Estate Investment Trust completed a $133 million raise and will use part of the funds to purchase MedMen Enterprises Inc (OTCMKTS: MMNFF) (CNSX: MMEN) properties. Shares of MedMen were down 0.97% and trading at $3.37 on the OTC.
Organigram Holdings Inc. (OTCMKTS: OGRMF) (CVE: OGI) fell 1..9% to $4.12.
MJardin Group Inc. (OTCMKTS: MJARF) (CSE: MJAR) also fell 5.48% to $3.31.
Flowr Corp (OTCMKTS: FLWPF) was up 0.12% at the end of the day, settling at $3.30.
Cresco Labs (OTCMKTS: CRLBF) (CSE: CL) fell 3.31% on the OTC and trading at $6.60.
Auxly Cannabis Group Inc. (OTCMKTS: CBWTF) was down 1.03% at $0.66.
After recently announcing the opening of its first flagship dispensary in Brooklyn New York iAnthus Capital Holdings (OTCMKTS: ITHUF) was down 0.77% to $4.51.
Namaste Technologies Inc. (OTCMKTS: NXTTF) (TSXV: N) soared 12.05% on the OTC, climbing to $1.10.
MariMed Inc (OTCQB: MRMD) closed down 2.27% at $3.45.
MediPharm Labs (TSXV: LABS) (OTCQB: MLCPF) began trading on the OTC Monday under ticker “MLCPF”. The stock was up 1.01% at $1.50 at the close of trading.
Sunniva Inc (CSE: SNN) (OTCQB: SNNVF) was down 4.17% on the OTC and was trading at $3.65.
Golden Leaf Holdings Ltd (CSE: GLH) (OTCQB: GLDFF) has a tumultuous day on the OTC. The stock ended the day down 7.69% and trading at $0.12.
CannTrust Holdings Inc. (OTCMKTS: CNTTF) (TSX: TRST) was up 3.04% on the OTC and trading at $5.64.
Origin House (OTCMKTS: ORHOF) (CNSX :OH) was down 2.43% to $5.62. The company has been fending off takeover offers, recently announcing that some of its shareholders, representing roughly 26% of the company, have entered into voting support agreements with the company in support of the company’s business strategy.
New Age Beverage Co. (NASDAQ: NBEV) was up 0.73% and trading at $5.51.
Horizon’s ETFs Management Canada Inc. (TSE: HMMJ) closed the day up 1.32% and trading at $16.06.
The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) was also up 1.55% and trading at $12.08.
ETFMG Alternative Harvest ETF (NYSEARCA: MJ) was down 0.14% and trading at $27.80.