It was a potboiler of a week in Canadian cannabis stocks, as the country continued to grapple with the upcoming legalization of recreational marijuana in October and what that will mean for pot stocks.
In short? Highs and lows when it comes to cannabis stocks in the country. In the last week alone, shares of certain cannabis companies have boosted upwards of 30%, notably the fact that Constellation Brands (NYSE:STZ) announced it will spend C$5bln to boost its stake in Canopy Growth Corp (CSE:WEED), which sent shares rocketing up 31.3% at C$42.20.
READ: Cannabis stocks rocket upwards in Canada on the back of funding and acquisition announcements; Canopy Growth up 31%
Cronos Group Inc (NASDAQ:CRON) (CSE:CRON) (FRA:7CI) jumped on Tuesday after announcing a number of cannabis supply agreements across Canada for the upcoming launch of the recreational market in October 2018.
Shares were up 12.6% at C$10.75 on Tuesday.
READ: Cronos shares jump after reaching supply deals in Canada
Aurora Cannabis Inc. (TSE:ACB:CA) shares were up 7.2%, at C$8.16. Aphria Inc. (TSE:APH:CA) was flat, at C$11.37, after a busy week, previously.
READ: Auxly Cannabis acquires cannabis-focused Canadian research group KGK Science
Auxly Cannabis (CVE:XLY) was down 2.56% on Tuesday after it forged a share purchase agreement with KGK Science Inc to acquire all of its shares for US$12.3mln. KGK is a leading health and wellness-focused private contract research organization based in London, Ontario.