Despite Friday’s rebound, this was a bad week for the U.S.
stock market.
Cannabis stocks followed a very different trajectory, with the United States Marijuana Index, which tracks 15
of the largest marijuana stocks in the U.S., posting a loss of 2.34 percent Friday, but still closing the week up 4.2 percent. The
North American Marijuana Index, which also includes Canadian stocks, gained 2.1 percent this week.
The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) gained 24.7 percent over the last five days, while the ETFMG
Alternative Harvest ETF (NYSE: MJX) rose 5.8
percent.
Here are some of the top marijuana stocks in U.S. exchanges and how the performed this week:
-
22nd Century Group Inc (NYSE: XXII): down
0.37 percent
-
Aphria Inc (OTC: APHQF): up 27.8 percent
-
Aurora Cannabis Inc (OTC: ACBFF): up 32.2
percent
-
Cannabis Sativa Inc (OTC: CBDS): down
11.75 percent
-
CannTrust Holdings Inc (OTC: CNTTF): up
2.15 percent
-
Canopy Growth Corp (OTC: TWMJF): up 15.2
percent
-
Cronos Group Inc (OTC: PRMCF): up 48.4
percent
-
GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH): down 5.3 percent
-
India Globalization Capital, Inc. (NYSE: IGC): down 23.6 percent
-
MedReleaf Corp (OTC: MEDFF): up 19.3
percent
-
Scotts Miracle-Gro Co (NYSE: SMG): down
1.5 percent
-
THC Biomed Intl Ltd (OTC: THCBF): up 8.6
percent
-
Zynerba Pharmaceuticals Inc (NASDAQ: ZYNE): up 3.75 percent
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In The News
Phyto Partners, one of the largest private equity investment funds in the cannabis industry, announced Phyto
II, LP, a $100 million venture capital fund dedicated to investing in privately held cannabis companies. According to Managing
Partner Larry Schnurmacher, “Phyto II fund will focus on companies that enable licensed operators, the growers and
dispensaries, to operate compliant and successful businesses. These ancillary businesses will benefit greatly from the growth of
the industry and the billions of dollars that have been raised by the licensed operators.”
Shares of Alliance One International, Inc. (NYSE: AOI), a tobacco company, gained more than 22 percent Friday, after the company
revealed several investments in cannabis and hemp companies, both in the U.S. and Canada.
“One thing you can always count on in the cannabis space is a good surprise, and we got one this week, with Alliance One
International announcing the acquisition of controlling stakes in Canada's Island Garden, a licensed producer that is generating
revenue, and another ACMPR applicant, Goldleaf Pharm,”
420 Investor Alan Brochstein told Benzinga.
Alliance One also acquired a 40 stake in a North Carolina-based hemp-derived CBD company. “This is not only exciting in and of
itself, but is also likely a precursor for more of these cross-border deals ahead,” Brochstein said, referencing the American
tobacco company’s investments in Canadian companies.
The Canadian Securities Administrators (CSA) said it decided to continue with the policy of disclosure for Canadian-listed
companies with U.S. cannabis operations. “After the rescission of the Cole Memo, they announced a policy review, and it was
possible that these companies might have had to exit their CSE listings and use their OTC listings alone,” Brochstein
explained.
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In The Midwest As Michigan's New Medical Marijuana Laws Take Effect
On the earnings front, we saw reports out of Aurora Cannabis and GW Pharmaceuticals. For the second quarter of
fiscal 2018, Aurora reported revenues of $11.7 million, more than tripling last year’s sales, and gross profits of $6.9 million, up
374 percent year-over-year. The company said its strong results were, in
a large portion, driven by strong exports to and sales in Germany.
For its part, GW Pharmaceuticals delivered first quarter revenues of $7.7 million, more than tripling last
year’s. Despite strengthening sales, the company is still losing money, with net losses reaching $63.3 million, up more than 200
percent year-over-year.
Cronos Group announced the launch of Cronos Australia a 50/50 joint venture with NewSouthern Capital Pty
Ltd.
Paragon announced its next “Blunt Talk” will be held at the headquarters of cannabis business accelerator
CanopyBoulder on Feb. 13. Speakers include Tyler Tarr, Publisher at Sensi Magazine, Kelly Perez, CEO at
kindColorado, Courtney Mathis, President at kindColorado, Brendan Patrick Gillis, CEO at Vaporslide, Brittany
Centifanto, GM of Roots Rx Facilities and Andrew Warren, Community Liason at Paragon, Sales Director at Smokus Focus,
Business Development Consultant at HRVST Labs.
Finally, Canopy Growth closed a $200 million bought deal, selling 5.8 million shares of the company at $34.60
per share.
Picture by Javier Hasse
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