Cannabis stocks dropped Tuesday after news that Congress was close to finishing its latest farm bill which is poised to include provisions to legalize hemp.
Buds
Tilray Inc (NASDAQ:TLRY) ) was at US$114.00 by Tuesday’s closing bell.
Cronos Group Inc (NASDAQ:CRON) shares dipped slightly to US$10.89.
Canopy Growth Corporation (TSE:WEED, NYSE:CGC) shares closed up at US$31.70.
The cannabis producer closed its US$4 billion investment from Constellation Brands Inc (NYSE:STZ), the maker of Corona beer.
Duds
Not everyone was riding high today.
Shares of Aurora Cannabis Inc (NYSE:ACB) were down nearly 2.9% to US$7.29.
Auxly Cannabis Group Inc (OTCQX:CBWTF) shares were down about 2.3% to US$0.84 by the end of the trading day.
The company recently entered into a definitive agreement to acquire all of the issued and outstanding shares of Green Gene Research Inc, a cannabis genetics company with significant experience in cannabis research, testing, cultivation and optimization of proprietary seeds and strains.
The North American Marijuana Index, which tracks the leading cannabis stocks in the US and Canada, was down about 5.4% by Tuesday's close.
Contact Katie Lewis at katie@proactiveinvestors.com
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