Cannabis stocks saw mixed results across the board on Thursday amidst broader market weakness.
Buds
CV Sciences Inc (OTCMKTS:CVSI) continued to be one of the best performers, rising 8.9% to US$4.90. The Henderson, Nevada-based life-science company develops cannabidiol‐based pharmaceuticals and consumer products.
The company’s consumer product division focuses on manufacturing, marketing and selling plant-based CBD products under its PlusCBD brand
Shares of Toronto-based Cronos Group Inc (NASDAQ:CRON, CSE:CRON, FRA:7CI) were up 2.4% at C$8.91.
READ: Chemistree Technologies targets burgeoning cannabis market as legalisation expands across North America
The company's revenue nearly tripled in its most recent quarterly statement, with sales climbing to C$3.8 million, up from C$1.3 million in the year-ago quarter.
HEXO Corp (OTCMKTS:HYYDF, TSE:HEXO) stock climbed on Thursday up 3.9% at C$6.10. The company recently formalized its presence in Belville, Ontario, the first facility the company has established outside of Quebec.
Duds
Duds included Aphria Inc (TSE:APHA), which has been under pressure in November on the back of a shaky rollout of recreational cannabis in Canada and a postal strike. Aphria has supply agreements in place with all provinces and one territory in Canada. Shares were down 7.1% to C$10.54.
Tilray Inc (NASDAQ:TLRY) shares were down less than 3.3% to US$107.20. The company doubled the amount of cannabis sold in its third quarter but reported a decline in average selling prices.
Aurora Cannabis Inc (TSE:ACB) shares were down 5.1% at C$7.51.
The North American Marijuana Index, which tracks the leading cannabis stocks in the US and Canada, dipped 1.3% on Thursday.
Contact Katie Lewis at katie@proactiveinvestors.com
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