Cannabis stocks bounced back Wednesday with most companies trading up.
Green Growth Brands (OTCMKTS: GGBXF) (CSE: GGB) recently announced that the company is preparing a formal offer to acquire Aphria Inc. Green Growth closed down 3.85% on the OTC at $4.45.
After a short seller report was issued accusing the company of self-dealing, CEO Vic Neufeld resigned from his position with Aphria Inc (NYSE: APHA). Neufeld will however remain a board member. The company is entering into a class-action lawsuit in February that may further damage the company’s reputation. Aphria stock lost 0.75% sinking to $6.65.
Short sellers have been recently targeting Cronos Group (NASDAQ: CRON) arguing that the company is overvalued. In its most recent quarterly report Cronos announced a 52.04% gain. Cronos was up 2.84%% at the end of trading on Wednesday at $13.42.
Organigram Holdings Inc. (OTCMKTS: OGRMF) (CVE: OGI) announced this morning that it has entered into a partnership with Canada’s Smartest Kitchen, a leader in food product development. The two companies will develop cannabis edibles, specifically chocolate confectionery. Organigram gained 2.14% on the OTC and was trading at $4.76.
Curaleaf Holdings (OTCMKTS: CURLF) (CSE: CURA) announced the company has received a medical cannabis processing license in the state of Ohio. The company was trading down 2.2% at $5.88.
Canopy Growth Corp. (NYSE: CGC) announced it has been approved for a producer and processor license for the production and manufacturing of hemp in New York. Canopy closed Wednesday up 1.89% and was trading at $42.10.
With its share lockup period ending today, January 15, Tilray (NASDAQ: TLRY) shares were up 3.29% and trading at $85.61. Tilray announced a long-term revenue-sharing partnership with Authentic Brands Group this week, a deal worth $100M.
The Green Organic Dutchman Holdings Ltd. (OTCMKTS: TGODF) (TSE: TGOD) was trading up 1.76% at $2.26.
Innovative Industrial Properties Inc. (NYSE: IIPR) ended the day trading down 0.057% at $52.84.
Aurora Cannabis (NYSE: ACB) announced Monday the acquisition of Whistler Medical Marijuana Corp. in an all stock purchase worth $175M. The company expects to report somewhere between $50M to $55M for the quarter that ended Dec. 31, 2018. Aurora jumped 4.97% and as trading at $9.72.
With a 28.57% gain in the last four weeks Neptune Wellness Solutions (NASDAQ: NEPT) lost 2.38% and was trading at to $3.69.
Recently announcing a $67M acquisition which will allow Acreage to enter the Florida market, Acreage Holdings Inc. (OTCMKTS: ACRGF) (CNSX: ACRG.U) was up on the OTC by 0.82% and trading at $23.45 at the end of the day.
Thailand has given GW Pharmaceuticals (NASDAQ: GWPH) and its partner Otsuka Pharmaceuticals patent pending status for specific cannabis extracts produced by the company. GW Pharmaceutical was up 0.054% Wednesday and trading at $128.61.
Hexo Corp. (OTCMKTS: HYYDF) (TSE: HEXO) recently appointed Veronique Hamel as its Chief Innovation Officer. Hexo ended the day up on the OTC by 2.43% and trading at $4.67.
Treehouse Real Estate Investment Trust recently announced it has raised $133M to acquire properties from MedMen Enterprises Inc (OTCMKTS: MMNFF) (CNSX: MMEN). MedMen recently responded to allegations of breaching fiduciary duties and enriching themselves at the expense of shareholders. Shares of MedMen were down 0.15% on the OTC and trading at $3.07.
MJardin Group Inc. (OTCMKTS: MJARF) (CSE: MJAR) plunged 9.13% at $3.14.
Flowr Corp. (OTCPK:FLWPF) was down 2.54% at the end of the day, settling at $3.07.
After the announcement that the first legal cannabis sales will commence as early as next week, According to Cresco Labs (OTCMKTS: CRLBF) (CSE: CL) legal cannabis sales will begin in Ohio via the company’s dispensary. Cresco was up 2.55% on the OTC and trading at $6.79.
Auxly Cannabis Group Inc. (OTCMKTS: CBWTF) was granted an “outperform” rating from AltaCorp. The company was down 0.11% to $0.71.
iAnthus Capital Holdings (OTCMKTS: ITHUF) announced it has acquired all issued and outstanding shares of MPX Bioceutical Corporation. iAnthus lost 1.77% and was trading at $4.42.
Despite a 70% gain in 2019 Namaste Technologies Inc. (OTCMKTS: NXTTF) (TSXV: N) was trading up 3.81% on the OTC at $1.05.
MariMed Inc (OTCQB: MRMD) announced that it is forming MariMed Hemp Inc. as a subsidiary that will handle hemp-derived CBD product branding and production. MariMed closed the day up 6.15% at $3.80.
MediPharm Labs (TSXV: LABS) (OTCQB: MLCPF) recently announced a multi year cannabis extraction agreement with TerrAscend. MediPharm also began trading on the OTC Monday under ticker “MLCPF”. MediPharm was up 1.48% at $1.52 at the close of trading.
Sunniva Inc (CSE: SNN) (OTCQB: SNNVF) was trading down 1.86% at $3.17.
Golden Leaf Holdings Ltd (CSE: GLH) (OTCQB: GLDFF) was down 3.72% and trading at $0.12.
CannTrust Holdings Inc. (OTCMKTS: CNTTF) (TSX: TRST) climbed 4% on the OTC, trading at $6.24.
Origin House (OTCMKTS: ORHOF) (CNSX :OH) announced a binding term sheet with Alternative Medical Enterprises to alter its agreement in order to raise its equity position in the company. Origin House was down 1.34% and trading at $5.63.
New Age Beverage Co. (NASDAQ: NBEV) announced the signing of an agreement to develop and distribute Bob Marley branded cannabis infused beverages. New Age was down 6.35% and trading at $6.64.
Horizons ETFs Management Canada Inc. (TSE: HMMJ) gained 0.95%% and was trading at $18.07.
The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) also gained 0.47% and trading at $13.54.
ETFMG Alternative Harvest ETF (NYSEARCA: MJ) was trading up 1.32% at $30.68.
The North American Marijuana Index tracks the leading cannabis stocks in the US and Canadian Sectors. The Index lost 1.47% and trading at $256.48