Around mid-day today, the major cannabis stocks were broadly positive. The Horizons Marijuana Life Sciences ETF (HMMJ) was up almost 1% around noon. Let’s look at how some of the big cannabis stocks were doing around the same time.
Tilray (TLRY) was trading nearly 2.2% higher after the big sell-off yesterday on the back of its IPO lockup expiry. See Big Headlines that Drove Cannabis Stocks Yesterday. Similarly, Canopy Growth (WEED)(CGC) was trading nearly 1% higher. Optimism for the company remained after it recently received a licence to operate in New York—see How Hemp License Sets CGC on a Path to a Billion Dollars in Sales.
Aurora Cannabis (ACB) was also trading higher today by as much as 4%. The company continued to hold its gains after it reported that it will acquire Whistler Medical Marijuana Corp. earlier this week. Cronos Group (CRON) was also trading nearly 1.7% higher around noon while HEXO Corp. (HEXO) was up by almost 50 basis points. Aphria (APHA) was up by 45 basis points. The company reported its quarterly earnings just last week. Check out our Key Takeaways from Aphria’s Second-Quarter Earnings.