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Buds & Duds: Cannabis stocks nudge upwards; CROP Infrastructure shares rise on nursery completion in Nevada

Also on the move were Golden Leaf, Cronos, GrowGeneration, Aleafia Health and OrganiGram
Cannabis leaf stock up
CROP announced Tuesday that it has completed the construction of its 57,600 sq/ft nursery in Nye County, Nevada

Cannabis stocks perked up on Wednesday, after a tumultuous few weeks. 

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was up 0.5% to 300.79. The Horizons Marijuana Life Sciences Index ETF was up 0.8% at C$20.99 by Wednesday's close. 

Buds

CROP Infrastructure Corp (CSE:CROP) (OTC:CRXPF) shares jumped on Wednesday. 

Shares were up 1.7% at C$0.31 in Canadian trading Wednesday midday. 

The company announced Tuesday that it has completed the construction of its 57,600 square foot nursery in Nye County, Nevada and it is ready to support the company’s CBD farm operations.

"The Crop family of companies and subsidiaries continues to build strategic infrastructure in key states where we are present. These are one-time builds that will streamline harvests, reduce risks and costs as well as maximize yields for many years to come," said CEO Michael Yorke. 

READ: CROP Infrastructure’s Nevada Nursery ready for plants to support its CBD farm operations

Also on the move on Wednesday was Golden Leaf Holdings Ltd (CSE:GLH) (OTCMKTS:GLDFF), which soared 7.7 at C$0.14 in Toronto, up 15.1% at US$0.11 in New York. 

The company did not release any new news, but recently announced a corporate update, outlining the initiation of new efficiency measures, trimming its workforce by 19 people. 

The Canadian company has cultivation, production and retail operations in Canada as well as in Oregon and Nevada.

Other gainers on Wednesday included Cronos Group Inc (NASDAQ:CRON) (TSE:CRON), which was up 2.4% at  C$22.42 in Toronto and up 1.9% at US$16.59 in New York.

Duds

There were a number of laggards on Wednesday, in light of recent volatility. 

GrowGeneration Corp (OTCMKTS:GRWG) shares slipped on Wenesday, down 1.9% at US$2.87 on no news.  

Other decliners included Aleafia Health Inc (CVE:ALEF), which slipped 2.7% at US$1.22 and OrganiGram Holdings Inc (TSE:OGI) (OTCMKTS:OGRMF), which nudged down 1.1% at C$8.90 in Toronto. 

Contact Katie Lewis at [email protected]

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