Cannabis stocks were riding high in the weeks leading up to legalization, but major players in the space have seen their share price drop alongside the hype.
There was a light at the end of the tunnel Tuesday Morning as North American cannabis stocks began to inch higher.
Aurora Cannabis Inc (TSE:ACB, NYSE:ACB), fresh from its debut on the New York Stock Exchange, saw its shares up more than 2% to US$6.05.
Canopy Growth Corporation (TSE:WEED, NYSE:CGC) shares jumped nearly 4% to US$34.26.
MPX Bioceutical Corporation (CSE: MPX; OTCQX: MPXEF) shares were on the rise after announcing it would be expanding its reach into the Maryland market via a new Health for Life dispensary.
A rising tide lifts all boats, but some cannabis companies were left behind in negative territory.
READ: Succeeding in California cannabis: four questions with Chemistree Technologies president Karl Kottmeier
Isodiol International Inc (CSE:ISOL, OTCQB:ISOLF) appointed former champion bodybuilder and World’s Strongest Man competitor Franco Columbu to its Iso-Sport Management team, but the star power wasn’t quite bright enough.
Shares slipped about 4% to US$1.25.
ICC International Cannabis Corp (CSE:WRLD, OTCQX:KNHBF) announced via a corporate update that it would continue to deploy its “assertive acquisition” strategy, but the update failed to encourage investors.
Shares sank nearly 4% to $0.45.
Maple Leaf Green World Inc (OTCQX:MGWFF) inked a supply deal with Namaste Technologies Inc's (CVE:N, OTCMKTS:NXTTF) online marketplace Cannmart Inc.
Contact Lenore Fedow at [email protected]