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CTST, TLRY, CGC, and Other Cannabis Stocks on the Rise

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Sector moving higher

The cannabis sector inched higher this morning with the Horizons Marijuana Life Sciences ETF (HMMJ) gaining nearly 1% while the ETFMG Alternative Harvest ETF (MJ) gained about 0.66%.

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CTST and other gainers

CannTrust (CTST) saw among the biggest gains around noon with its stock rising about 4%. Recently, CannTrust announced that it would raise $200 million with investment firms such as Credit Suisse, Merrill Lynch, RBC Capital Markets, and Citigroup to co-lead the raise.

Tilray (TLRY) was also moving higher at midday with its stock rising about 2.7% while Cronos Group (CRON) gained 3.8%. Both stocks have faced severe selling pressure lately.

During the day, Emerald Health (EMHTF) was also gaining with a 2.9% increase while Canopy Growth (WEED)(CGC) was trading up about 2.9%. Canopy Growth has gained almost 20% in the last ten days after announcing its acquisition of Acreage Holdings.

Acreage Holdings has a presence in 20 US states and a market size of $17 billion. Acreage’s portfolio includes dispensing, processing, and cultivating operations. The company also has about 24 retail store brands under the Botanist brand.

Other stocks that were moving higher include Innovative Industrial Properties (IIPR), which gained about 0.7%, and Aurora Cannabis (ACB), up about 0.8% around midday.

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