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Buds & Duds: NextLeaf Solutions shares soar after trading debut

Also on the move were Next Green Wave and Namaste Technologies
cannabis oils
NextLeaf shares jumped Friday after it started trading on the Canadian Securities Exchange under the ticker OILS on Thursday

It was a topsy-turvy day for cannabis stocks in North American on Friday, with many dipping alongside broader North American markets.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada was down 1.7% at US$299.94 on Friday. 

Buds

Shares of NextLeaf Solutions Ltd (CSE:OILS) popped Friday after the company made its debut on the Canadian Securities Exchange under the ticker symbol OILS. NextLeaf has a number of issued and pending patents for processing purified cannabinoid distillate: a tasteless, odourless cannabis concentrate.

Shares of the cannabis extraction and processing technology company were up 12.5% at C$0.45. 

READ: NextLeaf Solutions debuts on Canadian Securities Exchange

Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) shares were also on the move on Friday, up 7.4% at C$0.73 in Toronto and up 4.6% at US$0.54.  Earlier this week, the company announced it has appointed Baker Tilly WM LLP as its auditor, replacing PricewaterhouseCoopers LLP.

Duds

Aurora Cannabis Inc (NYSE:ACB) (TSE:ACB) shares sank on Friday, likely due to profit taking, as the stock has gained more than 85% since the beginning of 2019. 

The share price dropped 5.6% to US$9.03 and climbed 5.3% to C$12.10 in Toronto.

Other laggards on Friday included VIVO Cannabis Inc (CVE:VIVO) (OTCMKTS:VVCIF) despite announcing news on Thursday that its wholly-owned subsidiary, ABcann Medicinals Inc, had received approval from Health Canada for cultivation at its expansion at the company's Vanluven Road facility in Napanee, Ontario. 

Shares were down 6.0% at US$0.78 in New York and down 5.4% at C$1.06 in Toronto. 

 

Contact Katie Lewis at [email protected]

Follow her on Twitter @kelewis

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