Cannabis stocks perked up on Wednesday, after a tumultuous few weeks.
The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was up 0.5% to 300.79. The Horizons Marijuana Life Sciences Index ETF was up 0.8% at C$20.99 by Wednesday's close.
CROP Infrastructure Corp (CSE:CROP) (OTC:CRXPF) shares jumped on Wednesday.
Shares were up 1.7% at C$0.31 in Canadian trading Wednesday midday.
The company announced Tuesday that 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.
"The Crop family of companies and subsidiaries continues to build strategic infrastructure in key states where we are present. These are one-time builds that will streamline harvests, reduce risks and costs as well as maximize yields for many years to come," said CEO Michael Yorke.
The company did not release any new news, but recently announced a corporate update, outlining the initiation of new efficiency measures, trimming its workforce by 19 people.
The Canadian company has cultivation, production and retail operations in Canada as well as in Oregon and Nevada.
There were a number of laggards on Wednesday, in light of recent volatility.
Other decliners included Aleafia Health Inc (CVE:ALEF), which slipped 2.7% at US$1.22 and OrganiGram Holdings Inc (TSE:OGI) (OTCMKTS:OGRMF), which nudged down 1.1% at C$8.90 in Toronto.
Contact Katie Lewis at [email protected]