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Buds & Duds: Terra Tech and Aphria rolling higher, but Green Growth Brands and Acreage Holdings shares dip

Green Growth Brands recently put in a C$2.1 billion takeover bid for cannabis producer Aphria, but it was not accepted

Cannabis leaf in a coffee mug
Shares of Golden Leaf Holdings and Aphria were also on the rise

Buds

The North American Marijuana Index is starting off the new year on a positive note with a few budding stocks of note.

The Index, which tracks the leading cannabis stocks in the US and Canada, was up 6.1% to 221.65.

Terra Tech Corp (OTCQX:TRTC) was one of the best-performing cannabis stocks, up about 12% to US$0.64 on Wednesday. The cannabis-focused agriculture company’s merger with Golden Leaf Holdings fell through earlier this month.

READ: CryptoCann™ Report: Fortnite merch store accepts Monero; Colorado marks fifth year of legalized marijuana

Golden Leaf Holdings Ltd (CSE:GLH) (OTCQB:GLDFF) shares jumped more than 18% to US$0.12. The Toronto-based cannabis company recently named William Kulczycki as its new CEO.

Organigram Holdings Inc (TSE:OGI) (OTCQX:OGRMF) shares were up more than 17% to US$4.18. The company has inked adult-use recreational supply deals or listing agreements with customers in nine out of the 10 Canadian provinces. The remaining province of Quebec is a target for 2019.

Shares of Aphria Inc (TSE:APH) (OTCQB:APHQF) were up about 5% to US$6.01. The cannabis producer recently turned down a C$2.1 billion takeover bid, saying that it undervalued the company.

Shares of Isodiol International Inc. (CSE:ISOL) (OTCQB: ISOLF) rose 6% to US$0.99. The Vancouver-based company sells hemp-based consumer products for distribution in Canada, Latin America, Asia, and Europe.

Duds

Shares of Green Growth Brands Ltd (CSE:GGB) dipped 1% to C$4.60. The company recently put in a C$2.1 billion takeover bid for cannabis producer Aphria Inc (TSX:APH) (OTCQB:APHQF), but it was not accepted.

READ: Aphria says Green Growth Brands' takeover bid undervalues cannabis company

Tilray Inc (NASDAQ:TLRY) shares dipped slightly to US$70.46.

Shares of Origin House (CSE:OH) were down 0.5% at C$6.42. 

 

--Contact Lenore Fedow at [email protected]

--Follow her on Twitter@LenoreMariee

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