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Buds & Duds: Cannabis stocks slip; Empower shares power up

Also on the move were Crop Infrastructure, TILT Holdings, Cronos and Terra Tech
cannabis
Empower Clinics is one of the largest operators of medical-cannabis-focused healthcare in the US

Cannabis stocks tumbled into Tuesday slipping down, after boosts on Monday. 

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, slipped 0.7% to 299.09 on Tuesday. The Horizons Marijuana Life Sciences Index ETF was flat at C$20.90.

Buds

Empower Clinics Inc (CSE:CBDT) (OTCMKTS:EPWCF) shares powered up on Tuesday, jumping 12.5% at C$0.18 in Canadian trading on Tuesday midday. 

Last week, the firm announced it is partnering with a leading digital cannabis analytics company to place educational kiosks in each of its clinics to provide information, data and analysis of physician-recommended alternative CBD therapies.

Empower Clinics is one of the largest operators of medical-cannabis-focused healthcare in the US. 

WATCH: Empower Clinics signs agreement for pilot program with Cannvas Medtech

CROP Infrastructure Corp (CSE:CROP) (OTC:CRXPF) shares were up on Tuesday, after it announced it has completed the construction of its 57,600 square foot nursery in Nye County, Nevada and it is ready to support the company’s CBD farm operations.

Shares popped 5% at C$0.31 in Toronto and up 2.8% at US$0.24 in New York. 

“The CROP family of companies and subsidiaries continues to build strategic infrastructure in key states where we are present,” said CROP Infrastructure CEO Michael Yorke in a statement. “These are one time builds that will streamline harvests, reduce risks and costs as well as maximize yields for many years to come.”

READ: CROP Infrastructure’s Nevada Nursery ready for plants to support its CBD farm operations

TILT Holdings Inc (CSE:TILT) (OTCMKTS:SVVTF) shares were soaring on Tuesday on the back of gains from Monday. The company announced it was broadening its California market penetration, with the expansion of its Blackbird Holdings Corp delivery and supply chain services in LA. 

Shares were up 8.6% at C$2.78 in Toronto, up 9.7% at C$2.10 in New York. 

Duds

A number of stocks lagged on Tuesday. 

Terra Tech Corp (OTCMKTS:TRTC) shares slipped on Tuesday, after significant gains last week.

The cannabis-focused agricultural company's shares were down 4.5% at US$0.89 in New York on no new news. 

Other laggards Tuesday included Cronos Group Inc (NASDAQ:CRON) (TSE:CRON), which slipped 3.7% at US$16.24 in New York, off 3.2% at C$21.77 in Toronto. 

Cronos shares have been volatile lately, after a host of spikes and has dropped around 15% in the last month. 

 

Contact Katie Lewis at [email protected]

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