ACB, IIPR, ACRGF, HEXO Rise amid Mixed Sector Performance


May. 16 2019, Published 3:11 p.m. ET

Sector mixed

The cannabis sector is largely mixed today. Whereas Canopy Growth (WEED), CannTrust, Aphria, and a few others have fallen, some stocks have risen.

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The gainers

During today’s first half, Innovative Industrial Properties (IIPR) rose ~4%. Unlike other cannabis players that cultivate and harvest cannabis, IIPR is primarily a cannabis REIT. Acreage Holdings (ACRGF) has also risen today, by ~1.9%. However, the stock has been on a downward trajectory as the market gauges the possibility of Canopy Growth’s acquisition succeeding.

KushCo Holdings (KSHB), which is primarily active in US markets, had also risen as of noon, gaining 2.4%. OrganiGram (OGRMF) had risen by 1.1%.

Aurora Cannabis (ACB) had gained ~1.2%. Analysts are optimistic toward Aurora, recommending “buy” following the company’s earnings release. To learn more, read Aurora Cannabis: Analysts’ Ratings and Target Price. HEXO (HEXO) continued to attract bulls with a gain of ~0.51% as of noon. The ETFMG Alternative Harvest ETF (MJ) had risen by 0.9%.


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