leadf
logo-loader
viewAurora Cannabis Inc

Marijuana stocks continue to burn out as North American Marijuana Index falls double digits

Meanwhile, Aurora Cannabis shares were flat as the company awaits debut on the New York Stock Exchange

Burning blunt
Aurora Cannabis is set to begin trading on the New York Stock Exchange

It’s another rough day for North American cannabis stocks with many of the big names in negative territory.

MariMed Inc (OTCQB:MRMD) was one of the top decliners in the space, falling more than 18% to US$3.38.

The cannabis company’s CEO Robert Fireman recently presented at Canaccord Genuity’s US Canada Cannabis Symposium.

READ: International Cannabis Corp plants another flag in the EU with acquisition of Polannabis Holdings

MedMen Enterprises Inc (CSE:MMEN,OTCQB:MMNFF) shares fell close to 15% to US$4.89.

The company has been announcing acquisitions left and right, including a recent US$682 million deal to acquire medical marijuana company Pharmacann.

Canopy Growth Corp (NYSE:CGC, TSE:WEED) was another decliner, sinking nearly 9% to US$37.91.

CannaRoyalty Corp (CSE:CRZ,OTCQX:CNNRF) was down more than 10% to US$5.74.

READ: CryptoCann™ Report: Port of Rotterdam to track shipments with blockchain; Oregon chef serves weed-fed pork

The company unveiled its new name on Monday as it shifts its focus from royalty investment to distribution. It will now be known as Origin House, trading on the CSE under the stock symbol “OH” and on the OTCQX under the stock symbol “ORHOF”.

Shares of Toronto-based cannabis company Newstrike Brands Ltd (CE:HIP,OTCMKTS:NWKRF) fell more than 12% to C$0.47.

The North American Marijuana Index, which tracks the top cannabis stocks in the United States and Canada, was down nearly 12% to US$251.37.

The Horizons Marijuana Life Sciences Exchange Traded Fund, a group of marijuana stocks that trades on the Toronto Stock Exchange, sank 7% to C$18.85.

Aurora Cannabis Inc (TSX:ACB, OTCMKTS:ACBFF) shares were flat as the company awaits its debut on the New York Stock Exchange.

 

Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

Quick facts: Aurora Cannabis Inc

Price: 6.13 CAD

TSX:ACB
Market: TSX
Market Cap: $744.97 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Mandalay Resources latest drilling shows impressive results from Youle...

Mandalay Resources (TSE: MND-OTCQB: MNDJF) President and CEO Dominic Duffy joined Steve Darling from Proactive with news the company has seen some very strong numbers from the latest drill results on the Youle Deposit at their Costerfield Project. Duffy telling Proactive the numbers returned...

1 day, 4 hours ago

2 min read