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Buds & Duds: Canopy Growth, Tilray, Aurora Cannabis, MedMen and other notable names take a hit

Cannabis-focused life-science company CV Sciences was one of the few gainers on the North American Marijuana Index

Marijuana leaves
Canopy Growth, Aurora Cannabis, Tilray and Cronos were some of the top decliners

Buds

It was a rough end to the week for cannabis companies, but there were a few budding stocks this afternoon.

CV Sciences Inc (OTCQX:CVSI) was a top gainer on the North American Marijuana Index.

READ: CryptoCann™ Report: Intel files patent for energy-efficient Bitcoin mining; Study finds fewer opioid overdoses in places with marijuana dispensaries

Shares of the cannabis-focused life-science company were up about 8% to US$5.31.

MariMed Inc (OTCQB:MRMD) shares were up about 2% to US$4.09 this afternoon.

The company operates cannabis facilities across multiple states, including its home base in Massachusetts, as well as Delaware and Nevada.

GW Pharmaceuticals PLC (NASDAQ:GWPH) shares climbed about 1% to US$122.99.

The company recently reported positive results from a second Phase 3 trial of its cannabis-based Epidiolex, a treatment for a severe form of childhood epilepsy.

Shares of Toronto-based Cronos Group Inc (NASDAQ:CRON) rose about 1% to US$8.99.

Duds

Most of the North American cannabis stocks were in the red this afternoon.

The North American Marijuana Index, which tracks the leading cannabis stocks in the US and Canada, slipped about 1.4%.

Isodiol International Inc (CSE:ISOL) (OTCQB:ISOLF) was one of worst-performing stocks on the index, falling more nearly 10% to C$1.49.

The Vancouver-based company develops hemp-based consumer products and solutions in Canada, Latin America, Asia, and Europe.

MedMen Enterprises Inc (CSE:MMEN) (OTCQX:MMNFF) reported sales growth of 1,094% in its third quarter, but widening losses dragged its shares down about 9% to US$3.21.

Canopy Growth Corporation (TSE:WEED) (NYSE:CGC) shares slipped nearly 1% to US$32.86.

The cannabis company recently announced that it had completed its asset acquisition of ebbu Inc, a hemp-focused research company.

Shares of medical cannabis company Tilray Inc (NASDAQ:TLRY) were down around 4% to US$102.74.

Aurora Cannabis Inc (NYSE:ACB) shares dipped about 0.5% to US$5.63. The company recently received the final regulatory approval for its acquisition of ICC Labs Inc.

 

Contact Lenore Fedow at lenore@proactiveinvestors.com

Follow her on Twitter@LenoreMariee

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