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Buds & Duds: Cannabis stocks quiet into the weekend after milestone week in marijuana

A year post-legalization in Canada, cannabis investors are taking it on the chin

Aurora Cannabis Inc -
Companies on the move included Biome Grow, TILT Holdings and Khiron

Cannabis stocks retreated into the weekend after a roller coaster week throughout North American markets. 

One year post-legalization in Canada, cannabis investors are taking it on the chin as the pot industry course-corrects.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada fell 1.6% to 139.34 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF lost 2.5% to C$10.77, while the OTCQX Cannabis Index sank 1.5% to 512 points. 

Buds 

A handful of pot stocks were seeing green at the end of the week. 

TILT Holdings Inc (CSE:TILT) (OTCMKTS:TLLTF) surged 16.7% in Canada to hit C$0.39 on Friday morning and echoed its gains on OTC markets, jumping 17.8% at US$0.30. 

Biome Grow Inc (CSE:BIO) (OTCMKTS:BIOIF) also saw a healthy increase in its share price, rising 13.5% in Canada at C$0.30. South of the border, the cannabis cultivator dropped 6% on OTC markets at US$0.23. 

Khiron Life Sciences Corp (CVE:KHRN) (OTCMKTS:KHRNF) was up 6.1% in Toronto at C$1.21 after announcing earlier in the week that it was planning to commercialize its CBD skincare brand in the UK. 

Its shares jumped on OTC markets to US$0.94. 

Duds 

Auxly Cannabis Group Inc (CVE:XLY) (OTCMKTS:CBWTF) dropped 2.7% on Friday at C$0.72 in Toronto after announcing it got the approval from the TSX Venture Exchange to amend the conversion price under its 6% unsecured convertible debentures in the principal amount of C$100,000,000 maturing on January 16, 2020 from C$1.55 per share to $0.74 per share. 

Major producer Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) sunk 5% on no new news to trade at C$4.86 in Canada. In New York, its shares lost 5.3% at US$3.69. 

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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