Buds & Duds: Cannabis stocks mixed; market conditions proving tough for Curaleaf, Zenabis
It was a mixed bag for cannabis investors on Wednesday with some early standouts on both sides of the coin
Company
TSE:ACB
A community minded medical cannabis company based in Vancouver, British Columbia.
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It was a mixed bag for cannabis investors on Wednesday with some early standouts on both sides of the coin
A year post-legalization in Canada, cannabis investors are taking it on the chin
Most cannabis stocks have lost at least half their market value a year following weed legalization in the Great White North
The high-growth UK sector ratcheted up fundraising to $43mln this year
The Edmonton-based cannabis giant made significant investments in its bid to increase its global presence
Also on the move were Terra Tech, CannTrust Holdings Inc, CB2 Insights and Curaleaf
Hardware & electrical equipment
Aurora is planning to purchase a third machine for its European operations in Denmark
The system in place for access to medicinal cannabis in the UK is not working, according to Aurora Cannabis
EnWave is developing commercial applications for its dehydration technology in the cannabis, food and pharmaceutical industries.
EnWave reported 2Q revenue of C$8.8 million for the quarter ended March 31, 2019, a boost of C$4.6 million, compared to the same period a year ago
Aurora has exercised an option that will see the cannabis company use EnWave's proprietary Radiant Energy Vacuum (REV) dehydration technology for drying cannabis in South America
Also on the move were Tilray, Canopy Growth, Progressive Planet and Codebase Ventures
CEO Scott Dowty says the combined assets, expertise and network positions the company for ‘tremendous growth’
Analyst Rob Wertheimer says Aurora continues to widen its lead, and the firm maintains its Overweight rating with ‘more comfort post results’
Also on the move were HEXO, Valens, Tilray, TILT and Aphria
Also on the move were CannTrust, 1933 Industries, Tilray and Aurora Cannabis
The firm reported net revenues of C$65.2 million (US$48.44 million) in the quarter, lower than analyst estimates of C$67.5 million (US$51 million)
Also on the move were Valens, Aurora, MariMed and The Supreme Cannabis Company
Also on the move were Cronos, Aurora, TILT and Vivo
Also on the move were Valens, Cronos, TerraTech and Aurora