Buds
Cannabis stocks were mixed Friday afternoon, but there were a handful of budding stocks.
Aphria Inc (TSX:APH) (OTCQB:APHQF) was a top gainer on the North American Marijuana Index with shares climbing nearly 8% higher to US$5.61. The Canadian cannabis company recently signed an exclusive supply agreement with Insumos Medicos SA to supply medical cannabis in Paraguay.
Organigram Holdings Inc (TSX:OGI) (OTCQX:OGRMF) shares jumped around 5% to US$3.68 after reporting a boost in net sales in its fourth-quarter results. The company more than doubled its net sales for the fiscal year, increasing 131% to $12.4 million, compared with $5.4 million a year ago.
READ: Tilray subsidiary to expand its presence in Québec via investment in cannabis producer ROSE LifeScience
MariMed Inc (OTCQB:MRMD) shares rose more than 8% to US$3.06. The Massachusetts-based company recently announced that it was expanding its hemp operations, investing US$3 billion in Kentucky-based GenCanna as it looks to increase its presence in the hemp-derived CBD business.
Aurora Cannabis Inc (NYSE:ACB) (TSX:ACB) shares rose about 1.5% to US$5.80. The Canadian cannabis giant invested C$10 million investment into High Tide as it looks to expand its retail presence.
Supreme Cannabis Company Inc (CVE:FIRE) shares dipped about 2% to C$1.37. The Toronto-based company recently inked a deal with rapper Wiz Khalifa’s Khalifa Kush Enterprises to develop premium cannabis products.
Duds
Vancouver-based Isodiol International Inc (OTCQB:ISOLF) (CSE:ISOL) shares soared dipped more than 10% to C$1.35. The provider of CBD and hemp products recently appointed Gerry Ramogida, team chiropractor and performance therapist for the Seattle Seahawks, to its medical advisory board.
Valens GroWorks Corp (OTCQB:MYMSF) (CSE:VGW) shares were down around 5% to US$1.15. The Vancouver-based company recently entered into an extraction agreement with Canopy Growth Corporation (TSE:WEED) (NYSE:CGC).
Shares of Sunniva Inc (CSE:SNN) were down more than 3% to US$2.46. Daniel Vass, president of its Natural Health Services Ltd, tendered his resignation on Monday.
Tilray Inc (NASDAQ:TLRY) shares were down nearly 1% to US$74.81.
Its subsidiary High Park Farms Ltd is investing C$7.5 million into cannabis producer ROSE LifeScience Inc as it looks to increase its presence in the Québec market.
The North American Marijuana Index was down about 0.4% to $226.29.
--Updated to reflect recent share price
Contact Lenore Fedow at lenore@proactiveinvestors.com
Follow her on Twitter: @LenoreMariee