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. 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.

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%.