Cannabis Roundup: ACB, HEXO, and CTST Lead the Pack

On March 13, during the first half of the day, the overall cannabis sector traded higher.

Adam Jones - Author

Nov. 20 2020, Updated 4:22 p.m. ET

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Cannabis roundup

On March 13, during the first half of the day, the overall cannabis sector traded higher. The Horizons Marijuana Life Sciences ETF (HMMJ) rose nearly 0.9%, while the ETFMG Alternative Harvest ETF (MJ) rose 0.8% as of around noon EST.

Among the gainers in the cannabis sector were Aurora Cannabis (ACB), which rose ~10% after it reported that it would be joined by billionaire businessman Nelson Peltz as a strategic adviser, and HEXO (HEXO), which saw a 7% increase after it announced that it would be acquiring Newstrike Brands.

Innovative Industrial Properties (IIPR) was next with a 4% gain, followed by CannTrust (CTST), which rose nearly 0.8% as of around noon. SLANG Worldwide (SLNG) and Aphria (APHA) were two other cannabis stocks that were also in the green with gains of 0.46% and 0.1%, respectively.

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Not all have been gainers today. KushCo Holdings (KSHB) was trading in the negative territory with a 1.8% decline, followed by Canopy Growth (WEED) (CGC), which was down nearly 1.5% as of around noon. OrganiGram (OGRMF) was also trading in the negative territory, with its stock falling 0.04%, while Cronos Group (CRON) was down 0.54%.

Tilray (TLRY), which announced earlier this morning that it had added a former Goldman Sachs executive to its team, was also down 0.3%.


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