In general, cannabis stocks took a hit Thursday with few high-rollers in sight.
Valens GroWorks Corp (OTCQB:MYMSF) (CSE:VGW) shares rose 12% to C$1.64 after entering into an extraction agreement with Canopy Growth Corporation (TSE:WEED) (NYSE:CGC).
Innovative Industrial Properties Inc (NYSE:IIPR), which leases specialized industrial properties to state-licensed operators for their regulated medical cannabis facilities, saw its shares climb nearly 2% to US$51.75.
The agreement with Valens GroWorks failed to lift Canopy’s shares, which fell nearly 4% to US$30.82.
Tilray Inc (NASDAQ:TLRY) was a top decliner on the index, with shares sinking 10% to US$75.52.
Shares of Sunniva Inc (OTCQB:SNNVF) (CSE:SNN) were down nearly 0.2% to US$2.55. Daniel Vass, president of Sunniva's Natural Health Services Ltd, tendered his resignation on Monday.
Isodiol International Inc (OTCQB:ISOLF) (CSE:ISOL), a CBD and hemp products provider, shares dropped 3% to US$1.53.
The cannabis company announced Thursday it was forming an international advisory board, including former Vermont governor Howard Dean and former Lieutenant Governor of Maryland Michael Steele.
Aurora Cannabis Inc (NYSE:ACB) shares were down more than 7% to US$5.71 following the cannabis giant’s $10 million investment into High Tide as it looks to expand its retail presence.
GrowGeneration Corp (OTCQX:GRWG) shares dipped about 7% to US$2.80.
The Colorado-based company said Wednesday that it expanded its cultivation equipment warehouse in Maine by 10,000 square feet.
Massachusetts-based MariMed Inc (OTCQB:MRMD) shares sank more than 15% to US$2.85.
The company recently announced that it was expanding its hemp operations, investing US$3- billion in Kentucky-based GenCanna as it looks to increase its presence in the hemp-derived CBD business.
The North American Marijuana Index was down about 6% to $227.24.
Contact Lenore Fedow at [email protected]