Tuesday was a rough day for US and Canadian cannabis stocks with only a handful of gains and Tilray leading losses.
After announcing that the company is preparing a formal offer to acquire Aphria Inc., Green Growth Brands (OTCMKTS: GGBXF) (CSE: GGB) closed down 1.06% on the OTC at $4.63.
Aphria Inc (NYSE: APHA) has had a number of recent issues regarding a short seller report that revealed the company was self enriching its insiders through overvalued acquisitions. Further investors should handle this stock with extreme care — Aphria is entering into a class-action lawsuit in February that may further damage the company’s reputation. Aphria stock lost 4.83% sinking to $6.70.
Cronos Group (NASDAQ: CRON) announced a 52.04% gain with the release of its quarterly earnings report. Short sellers have recently been targeting the stock believing the company is overvalued. Cronos was down 5.16% at the end of trading on Tuesday at $13.05
Organigram Holdings Inc. (OTCMKTS: OGRMF) (CVE: OGI) lost 1.3% on the OTC and was trading at $4.66.
Curaleaf Holdings (OTCMKTS: CURLF) (CSE: CURA) announced the company has received a medical cannabis processing license. The company was trading up 0.69% at $6.01.
Canopy Growth Corp. (NYSE: CGC) jumped more than 11% on Monday after the company announced they intend to expand to the US to begin hemp operations. Canopy closed Tuesday down 2.8% and was trading at $41.30.
With its share lockup period ending today, January 15, Tilray (NASDAQ: TLRY) shares were down 17.24% and trading at $82.88.
The Green Organic Dutchman Holdings Ltd. (OTCMKTS: TGODF) (TSE: TGOD) Shares were trading down 3.48% at $2.22.
Innovative Industrial Properties Inc. (NYSE: IIPR) ended the day trading down 1.92% at $53.12.
Aurora Cannabis (NYSE: ACB) announced Monday the acquisition of Whistler Medical Marijuana Corp. in an all stock purchase worth $175M. Aurora jumped 3.24% and as trading at $7.00. The company expects to report somewhere between $50M to $55M for the quarter that ended Dec. 31, 2018.
According to Analysts Buzz Neptune Wellness Solutions (NASDAQ: NEPT) is expected to be trading at $3.15 next year. Neptune had no change in trading at to $3.78.
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 1.14% and trading at $23.26 at the end of the day.
GW Pharmaceuticals (NASDAQ: GWPH) was up 3.72% and trading at $128.54.
Hexo Corp. (OTCMKTS: HYYDF) (TSE: HEXO) has renewed its commitment to research and innovation by appointing Veronique Hamel as its Chief Innovation Officer. Hexo ended the day down on the OTC by 2.79% and trading at $4.56.
Last 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 down 5.54% on the OTC and trading at $3.07.
MJardin Group Inc. (OTCMKTS: MJARF) (CSE: MJAR) plunged 5.41% at $3.45.
The Flowr Corp. (OTCPK:FLWPF) announced a three-year medical cannabis supply agreement with Shoppers Drug Mart. The company was down 6.13% at the end of the day, settling at $3.15.
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 will be officially sold this week in Ohio via the company’s dispensary. Cresco was down 1.1% on the OTC and trading at $6.63.
Auxly Cannabis Group Inc. (OTCMKTS: CBWTF) was down 2.74% to $0.71.
iAnthus Capital Holdings (OTCMKTS: ITHUF) lost 5.27% and was trading at $4.50.
Despite a 70% gain in 2019 Namaste Technologies Inc. (OTCMKTS: NXTTF) (TSXV: N) was trading up 1.15% on the OTC at $1.01.
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 down 2.19% at $3.58.
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 down 8.45% at $1.49 at the close of trading.
Sunniva Inc (CSE: SNN) (OTCQB: SNNVF) was trading down 4.44% at $3.23.
Golden Leaf Holdings Ltd (CSE: GLH) (OTCQB: GLDFF) was up 4.67% and trading at $0.12.
CannTrust Holdings Inc. (OTCMKTS: CNTTF) (TSX: TRST) dipped 4.46% on the OTC, trading at $6.00.
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 Alternative. Origin House was down 7.44% and trading at $5.71. Recently the company has been fending off takeover offers.
According to Insider Financial, New Age Beverage Co. (NASDAQ: NBEV) is on the verge of a breakout. New Age was up 1.14% and trading at $7.09.
Horizons ETFs Management Canada Inc. (TSE: HMMJ) lost 3.09% and was trading at $17.90.
The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) also lost 2.57% and trading at $13.50.
ETFMG Alternative Harvest ETF (NYSEARCA: MJ) was trading down 3.23% at $30.28.
The North American Marijuana Index tracks the leading cannabis stocks in the US and Canadian Sectors. The Index lost 8.53% and trading at $257.90.