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Highs & Lows: Cannabis stocks have a rolling day, Emerald Health Therapeutics up 15.59%, but movements limited in general

Published: 18:44 22 Aug 2018 EDT

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In any other segment of the stock market, it would have been a blockbuster, if not exciting day, but for cannabis stocks it was a normal (if not tame) day in terms of stock movements. 

Shares of Canopy Growth Corp (TSE:WEED) were up 3.65% at C$40.08, after the company announced yesterday it received amended licences from Health Canada that increase the size of its national footprint. This includes nearly doubling of growing capacity at its Smiths Falls Campus by an additional 223,200 sq/ft. of cultivation space at its majority-owned Les Serres Vert Cannabis Inc.

READ: Canopy Growth to increase growing capacity after receiving amended licenses from Health Canada

Emerald Health Therapeutics Inc (CVE:EMH) boosted significantly, up 15.59% at C$4.30. 

Emerald Health Therapeutics and Village Farms International announced the appointment of Mandesh Dosanjh as president and CEO of 50/50 owned cannabis joint venture Pure Sunfarms.

Key detractors were Auxly Cannabis Group Inc (CVE:XLY) after it announced Tuesday that it acquired cannabis-focused Canadian research group KGK Science.

Auxly Cannabis Group is a collective of entrepreneurs in the cannabis industry.

READ: Auxly Cannabis acquires cannabis-focused Canadian research group KGK Science

The Horizons Marijuana Life Sciences Index ETF was up 0.60% at US$0.11. The index seeks to replicate, to the extent possible, the performance of the North American Marijuana Index. 

 

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