The cannabis sector had a quiet day at the end of the week, but most of the major indices trended lower.
The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, slipped 0.4% to 113.4 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF ticked down 0.2% to C$8.36, while the OTCQX Cannabis index gained 1.3% to 451.2 points.
Among the lucky few to buck the downward pull was Terra Tech Corp (OTCMKTS:TRTC), which climbed 7.6% to US$0.18.
Others on the upswing included 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF), which gained 2.4% to C$0.21 on the CSE and 2.4% to US$0.16 on OTC Markets, and Aphria Inc (TSE:APHA), which traded 1.9% higher at US4.92.
The biggest drop of the day belonged to Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB), which took a dive after analysts at Piper Sandler tagged the company with a 'Sell' rating and a price target of US$1, down from US$3, according to reports.
Analyst Michael Lavery doesn’t expect Aurora to achieve positive cash flow from operations until the third quarter of fiscal 2021, and the company will have to refinance C$360 million of debt due in August of that year.
Shares dropped 9.1% to C$2.20 in Toronto and 9.1% to US$1.69 in New York.
Also lower were Youngevity International Inc (NASDAQ:YGYI), down 7.3% to US$2.91; Cronos Group Inc (TSE:CRON) (NASDAQ:CRON) down 3.4% to C$8.90 in Toronto and 3.3% to US$6.82 in New York; and Emerald Health Therapeutics Inc down 4.6% to US$0.25.
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