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Buds & Duds: High times for The Green Organic Dutchman and Auxly Cannabis

Auxly Cannabis recently closed its acquisition of Uruguay-based cannabis company Inverell S.A.
Watering an arrow-shaped plant
Shares of MPX Bioceutical and Canopy Growth also fared well

Buds

Cannabis stocks were mixed Monday, but there were a few high rollers.

The Green Organic Dutchman Holdings Ltd (TSX:TGOD, OTCQX:TGODF) shares surged nearly 35% by Monday’s closing bell. The company has plans in the works for a spin-off company as it seeks out more international opportunities.

Auxly Cannabis Group Inc (OTCQX:CBWTF) shares jumped nearly 10% to US$0.80. The Vancouver-based company recently closed its acquisition of Inverell S.A., a federally-licensed cannabis operator based in Uruguay.

MPX Bioceutical Corporation (CSE: MPX; OTCQX: MPXEF) shares were up nearly 6% to $0.84. The cannabis company has been expanding its reach into the Maryland market via dispensary acquisitions.

READ: Cannabis company Golden Leaf Holdings sees revenue boost in 3Q as flower sales increase

Canopy Growth Corporation (TSE:WEED, NYSE:CGC) shares were up nearly 8%, closing up slightly to US$40.10. The cannabis producer recently closed its US$4 billion investment from Constellation Brands Inc (NYSE:STZ), the maker of Corona beer.

Shares of cannabis-focused agriculture company Terra Tech Corp (OTCQX:TRTC) were up more than 5% to US$1.83 after signing a non-binding letter of intent to merge with cannabis company Golden Leaf Holdings Ltd (CSE:GLH, OTCQB:GLDFF).

ICC International Cannabis Corp (CSE:WRLD, OTCQX:KNHBF) shares jumped more than 12% to US$0.52 by the end of the trading day.

Last week, the Vancouver-based company announced a strategic partnership with GreenTree International Inc, the parent company of Amercanex which operates the ACExchange, to create an electronic cannabis market platform.

Duds

Some North American cannabis stocks went up in smoke.

GW Pharmaceuticals plc (NASDAQ:GWPH) announced last week that Epidiolex, a cannabidiol oral medication used to treat seizures, is now available through a prescription in the US.

Its shares slipped close to 2% to US$143.35, but were flat by the close.

Newstrike Brands Ltd (OTCMKTS:NWKRF) shares slipped more than 2%, but jumped nearly 5% to US$0.40 by the end of the trading day. Its subsidiary Up Cannabis Inc was named an official supplier to the Ontario Cannabis Store.

--Updated to reflect recent share price

Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

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