Cannabis stocks cruised flat into Friday after a particularly bumpy week, which saw cannabis stocks see-saw across North American markets.
The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was up 0.17% to 295.92 by Friday close. The Horizons Marijuana Life Sciences Index ETF was down 0.1% at C$21.58.
Shares of New Age Beverages Corp (NASDAQ:NBEV) jumped Friday after the drinks company overcame an “extremely challenging” 2018 to post 4Q revenue that exceeded Wall Street's estimates.
Shares of New Age Beverages were up 2.1% at US$5.32 in New York.
The Denver, Colorado company beat the consensus forecast of $13.54 million to report net revenue of almost $14 million, up from $11.2 million in the year-ago period.
On Friday, the company announced news that Ester Vigil, its US vice president of sales, is one of 21 honorees of High Times' Women of Weed Awards, held today in Beverly Hills, California.
Headquartered in Vancouver, 1933 is a cannabis company with operations in the United States and Canada.
Other gainers on Friday included cannabis packaging company KushCo Holdings Inc (OTCMKTS:KSHB), which was up 3.3% at US$5.93 in New York and cannabis operator Green Thumb Industries Inc (CSE:GTII), which was up 3.5% at C$20.45 in Toronto.
Shares of the Vancouver-based cannabis financing company, which has operations across Canada and Uruguay, were down 11.3% at C$0.86 in Toronto and down 9.8% at US$0.65 in New York.
“2018 was an important year for us, as we made substantial progress towards our objective to become a vertically integrated cannabis company..." said CEO and Chairman Chuck Rifici. "We added key strategic assets and partnerships to our portfolio, have over $200 million of cash and cash equivalents, and are well positioned to execute on our objectives for this year.”
For 2018, Auxly reported a net loss of $66 million, or $0.14 per share, compared to a net loss of $18 million for 2017, $0.11 per share.
Shares were down 5.3% at US$7.68 in New York and off 6.0% at C$10.25 in Toronto.
Contact Katie Lewis at [email protected]