The marijuana sector saw a huge boost as US and Canadian cannabis stocks were generally trading up Monday.
One exception was Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) who had a rough day on the OTC, closing out down 1.26% at $3.69. The company recently placed a bid for a hostile takeover of Aphria Inc (NYSE: APHA) who declined the offer. Aphria was trading up 6.13 % at $6.41. Aphria is scheduled to release its earnings report for Q2 2019 on January 11. While the stock may be appealing in the short-term, long positions are cautioned. This stock is entering into a class-action lawsuit in February that may be damaging to the company’s reputation.
Cronos Group (NASDAQ: CRON) shares climbed 5.26% and settled at $12.40 at the end of trading.
Canopy Growth Corp. (NYSE: CGC) was trading up 2.52% at $28.90. The cannabis sector will be looking to Canopy for optimism as their next earnings report approaches on Feb. 13, 2019.
After recently signing a royalty bearing commercial sub-license with Tilray and Enwave, The Green Organic Dutchman Holdings Ltd. (OTCMKTS: TGODF) (TSE: TGOD) was trading down on the OTC by 1.54% at $1.92.
With its share lockup period ending January 15, Tilray (NASDAQ: TLRY) shares could face pressure very soon. Monday, company shares climbed 2.79% to $71.90.
EnWave (OTCMKTS: NWVCF) (TSXV: ENW) (FSE: E4U) closed out the day up 2.15% to $1.06.
Innovative Industrial Properties Inc. (NYSE: IIPR) jumped 7.37% to $49.66.
Aurora Cannabis (NYSE: ACB) also closed up 0.86% at $5.26.
Shares of Neptune Wellness Solutions (NASDAQ: NEPT) rose nearly 19% after the company announced that it received a license to process cannabis from Health Canada. Shares of the company ended the day up 12.46% to $3.25.
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 soared over 10% on the OTC Monday and closed out at $24.23
GW Pharmaceuticals (NASDAQ: GWPH) jumped 5.31% to $114.66. The company was recently endorsed by JP Morgan’s Cory Kasimov.
Hexo Corp. (OTCMKTS: HYYDF) (TSE: HEXO) soared 10.75% to $4.80. Russell Stanley, an analyst for Beacon Securities reiterated his bullish stance for the company, setting an $11 price target.
MedMen Enterprises Inc (OTCMKTS: MMNFF) (CNSX: MMEN) was down 2.37% and trading at $4.54 on the OTC.
Organigram Holdings Inc. (OTCMKTS: OGRMF) (CVE: OGI) was one of the few cannabis stocks to struggle on the OTC, losing 1.86% and closing out the day at $4.20.
MJardin Group Inc. (OTCMKTS: MJARF) (CSE: MJAR) fell 5.75% to $3.50.
Flowr Corp (OTCMKTS: FLWPF) was up 2.72% at the end of the day, settling at $3.30.
Cresco Labs (OTCMKTS: CRLBF) (CSE: CL) was up 0.10% on the OTC at $6.83.
Auxly Cannabis Group Inc. (OTCMKTS: CBWTF) was up 2.95% at $0.67.
After announcing the opening of its first flagship dispensary in Brooklyn New York iAnthus Capital Holdings (OTCMKTS: ITHUF) climbed 3.74% to $4.55.
Namaste Technologies Inc. (OTCMKTS: NXTTF) (TSXV: N) was also up 14.28% on the OTC, climbing to $0.98.
MariMed Inc (OTCQB: MRMD) closed down 1.94% at $3.53.
MediPharm Labs (TSXV: LABS) (OTCQB: MLCPF) began trading on the OTC Monday under ticker “MLCPF”. The stock was up 8.05% at $1.49 at the close of trading.
Sunniva Inc (CSE: SNN) (OTCQB: SNNVF) was up 10.56% on the OTC and was trading at $3.81.
Golden Leaf Holdings Ltd (CSE: GLH) (OTCQB: GLDFF) has a tumultuous day on the OTC. The stock ended the day down 6.47% and trading at $0.13.
CannTrust Holdings Inc. (OTCMKTS: CNTTF) (TSX: TRST) was up 2.03% on the OTC and trading at $5.47.
Origin House (OTCMKTS: ORHOF) (CNSX :OH) jumped 11.41% to $5.76. 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 0.92% and trading at $5.47.
Horizon’s ETFs Management Canada Inc. (TSE: HMMJ) closed the day up 3.26% and trading at $15.85.
The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) was also up 3.84% and trading at $11.90.
ETFMG Alternative Harvest ETF (NYSEARCA: MJ) climbed 2.77% to $27.84.