Tokers & Jokers | Cannabis Stocks Rally Thursday – Namaste Takes A Dive

Thursday’s bull-rush had most US and Canadian cannabis stocks seeing green, with Namaste the day’s exception posting over a 10% loss.

After announcing a new partnership with shoe retailer DSW Inc., Green Growth Brands (OTCMKTS: GGBXF) (CSE: GGB) shares soared as much as 10%, hitting a record high of CA$5.89 on the Canadian Securities Exchange. Thursday’s gains put Green Growth only 19% away from it’s target valuation of $7 — a valuation that Green Growth based its $2.1B offer for Aphria. The company was also up on the OTC by 4.5% and trading at $4.23.

Scheduled to release its earnings report for Q2 2019 tomorrow, January 11, Aphria Inc (NYSE: APHA) 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 3.02% at $6.58 at the close of trading.

Wednesday, GMP Securities published its Best Ideas list for the year, predicting Cronos Group (NASDAQ: CRON), Organigram Holdings Inc. (OTCMKTS: OGRMF) (CVE: OGI), and Curaleaf Holdings (OTCMKTS: CURLF) (CSE: CURA) will return over 20%.

Cronos Group (NASDAQ: CRON)shares were up 0.62% and trading at $13.06 at the end of trading.

Organigram Holdings Inc. (OTCMKTS: OGRMF) (CVE: OGI) climbed 3.18% to $4.57.

In an attempt to expand its Maryland footprint, Curaleaf Holdings (OTCMKTS: CURLF) (CSE: CURA) announced acquisition agreements with HMS Health LLC for two Maryland dispensaries. The company was trading up 1.62% at $5.76.

Brokerage firm Piper Jaffray initiated coverage on the sector, giving Canopy Growth Corp. (NYSE: CGC) a bullish overweight rating, and a price target of $40 by the end of the year. The company was trading up a massive 11.76% at $37.55.

Piper Jaffray also initiated an overweight stance on Tilray with a price target of $90. Cowen analyst Viven Azer also reiterated her outperform rating on the company with a target price of $150 by the end of 2019. With its share lockup period ending January 15, Tilray (NASDAQ: TLRY) shares could face pressure very soon. Tilray was trading up 0.88% to $80.40.

Adding medical pharmaceutical experience to the company’s team The Green Organic Dutchman Holdings Ltd. (OTCMKTS: TGODF) (TSE: TGOD) recently announced it has appointed Dr. Caroline MacCallum and Jacques Dessureault to its Board of Directors. Shares were trading up on the OTC by 4.94% and climbing to $2.08.

Innovative Industrial Properties Inc. (NYSE: IIPR) ended the day trading down 0.54% at $51.10.

After issuing guidance on their recent quarterly report, Aurora Cannabis (NYSE: ACB) jumped 8.99% and as trading at $5.94. The company expects to report somewhere between $50M to $55M for the quarter that ended Dec. 31, 2018.

Shares of Neptune Wellness Solutions (NASDAQ: NEPT) were trading day up 5% to $3.57.

Recently announcing a $67M acquisition, allowing them to enter the Florida market, Acreage Holdings Inc. (OTCMKTS: ACRGF) (CNSX: ACRG.U) was down on the OTC by 5.5% and trading at $22.91 at the end of the day.

JP Morgan Cory Kasimov, an analyst with JP Morgan, predicted GW Pharmaceuticals (NASDAQ: GWPH) is undervalued by 32 percent. Thursday the stock was up 4.85%% to $125.34.

After recently announcing its intention to list on the NYSE, Hexo Corp. (OTCMKTS: HYYDF) (TSE: HEXO) ended the day down on the OTC by 0.3% and trading at $4.76.

Wednesday, MedMen Enterprises Inc (OTCMKTS: MMNFF) (CNSX: MMEN) responded to allegations of breaching fiduciary duties and enriching themselves at the expense of shareholders. Shares of MedMen were up 1.66% on the OTC and trading at $3.19.

MJardin Group Inc. (OTCMKTS: MJARF) (CSE: MJAR) jumped 6.44% at $3.72.

The Flowr Corp. (OTCPK:FLWPF) announced a three-year medical cannabis supply agreement with Shoppers Drug Mart. The company was up 0.15% at the end of the day, settling at $3.42.

After the announcement that the first legal cannabis sales will commence as early as next week, Cresco Labs (OTCMKTS: CRLBF) (CSE: CL) was down 0.31% on the OTC and trading at $6.72.

After recently announcing the 80% acquisition of licensed Uruguayan Cannabis operator and CBD distributor, Inverell SA, Auxly Cannabis Group Inc. (OTCMKTS: CBWTF) climbed 1.48% to $0.69.

iAnthus Capital Holdings (OTCMKTS: ITHUF) recently announced the opening of its Brooklyn New York location. Thursday the company’s stock was up 0.41% and trading at $4.53.

Namaste Technologies Inc. (OTCMKTS: NXTTF) (TSXV: N) lost the most Thursday, trading down 10.48% on the OTC at $1.11.

MariMed Inc (OTCQB: MRMD) closed the day down 2.79% at $3.41.

MediPharm Labs (TSXV: LABS) (OTCQB: MLCPF) began trading on the OTC Monday under ticker “MLCPF”. The company announced it has purchased over 1,600 kilograms of dried cannabis for processing into cannabis oil. MediPharm was down 3.79% at $1.45 at the close of trading.

Sunniva Inc (CSE: SNN) (OTCQB: SNNVF) recently closed its acquisition of LYTR Logistics. Shares were trading up 1.97% at $3.67.

Golden Leaf Holdings Ltd (CSE: GLH) (OTCQB: GLDFF) was down 3% and trading at $0.12.

After applying to be publicly traded on the NYSE, CannTrust Holdings Inc. (OTCMKTS: CNTTF) (TSX: TRST) dipped 0.042% on the OTC, trading at $6.18.

Origin House (OTCMKTS: ORHOF) (CNSX :OH) was down 0.88% and trading at $5.60. Recently the company has been fending off takeover offers.

New Age Beverage Co. (NASDAQ: NBEV) was down 0.98% and trading at $6.04.

Horizons ETFs Management Canada Inc. (TSE: HMMJ) climbed 3.22% and was trading at $17.29.

The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) was also up 3.27% and trading at $13.06.

ETFMG Alternative Harvest ETF (NYSEARCA: MJ) was trading up 2.07% at $29.59.

The North American Marijuana Index tracks the leading cannabis stocks in the US and Canadian Sectors. The Index was up 4.79% and trading at $256.61

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