Cannabis stock losses
Today remained mixed for the cannabis sector with some major stocks continuing to decline at around 11:55 AM ET. Canopy Growth (WEED)(CGC) continued to trend lower by about 2.5% in the United States and about 2% in Canada. The company amended its nine-month adjusted EBITDA to reflect a higher loss. See Canopy Growth Restates Earnings Figure, Stock Sinks.
Tilray (TLRY) was also trading lower during the first half of the day with its stock falling 1.5% despite the company reporting its acquisition of hemp-based company Manitoba Harvest, which should help the company penetrate the US and Canadian markets. Check out Tilray to Acquire Manitoba Harvest. HEXO Corp. (HEXO) was also trading lower, by about 1.4% around noon, and the Horizons Marijuana Life Sciences ETF (HMMJ) was trading about 0.14% lower.
But all was not lost. CannTrust (CNTTF) was trading about 3% higher, extending its upward momentum after the company got approvals to up-list on the NYSE. The company will begin trading on February 25. See Why CannTrust Is Trending Higher in February.
Other cannabis stocks that were also trading in the green include Cronos Group (CRON), up 2%, Aphria (APHA), up 2.2%, and Aurora Cannabis (ACB), up 0.43%.