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Buds & Duds: Cannabis stocks have mixed start to week but Nextleaf shines on addition to OTC markets

Also on the move were The Flowr Corp, Zenabis Global and Aphria

cannabis
Nextleaf's addition to the OTC markets propelled its shares higher to start the week

Cannabis indices started the week mixed on Monday across North American markets.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, fell 1.6% to hit 209.8 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF sank 2.8% to C$15.93, while the OTCQX Cannabis Index grew 1.2% to 706.8 points.

Buds

Cannabinoid extraction company Nextleaf Solutions Ltd (CSE:OILS) (OTCMKTS:OILFF) got a boost on Monday after its shares began trading on the OTCQB Market.

The stock trades under the ticker OILFF on the middle-tier OTC Market in New York, in addition to its listing on the Canadian Securities Exchange.

Shares were 4.2% higher on the OTC markets on Monday at US$0.34 while on the CSE, Nextleaf’s shares jumped 7.1% to C$0.45.

Other cannabis companies making early Monday gains were Canadian licensed producer The Flowr Corp (CVE:FLWR), up 2.9% on Monday after last week’s addition of two new executives.

Zenabis Global Inc (TSE:ZENA) was also up 1.3% on Monday after announcing it had increased its total cultivation capacity by more than 40%.

Duds

Aphria Inc (TSE:APHA) (NYSE:APHA) was down on Monday despite announcing its Jamaican subsidiary received a retail license to open its first store in Kingston, the country’s capital. Shares fell 3.5% in Toronto and 3.3% in New York.

Other laggards were Eureka 93 Inc (CSE:ERKA), which sank 6.9% despite announcing it had secured letters of intent to expand its infrastructure to produce CBD-infused products.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Buds & Duds: Cannabis stocks level out Thursday; Next Green Wave shares pop...

Buds of the day are Next Green Wave (CSE:NGW) (OTCMKTS: NXGWF), Nextleaf Solutions Ltd (CSE:OILS).   Duds are CannTrust Holdings Inc (OTCMKTS:CNTTF) (TSE:TRST). 

on 28/3/19

2 min read