Cannabis stocks were on the rise Tuesday with several big names riding high as US voters in four states head to the polls to vote on marijuana proposals.
Auxly Cannabis Group Inc (OTCQX:CBWTF) shares were up more than 4% to US$0.83.
The company recently closed its acquisition of Inverell S.A., a federally-licensed cannabis operator based in Uruguay.
Canopy Growth Corporation (TSE:WEED, NYSE:CGC) shares were up more than 6% to US$42.59.
OrganiGram Holdings Inc (CVE:OGI, OTCQX:OGRMF) shares were up more than 5% this afternoon, closing up about 2% to US$4.93.
The New Brunswick-based cannabis supplier also operates healing centers for those living with post-traumatic stress disorders, chronic pain, and other forms of trauma.
Newstrike Brands Ltd (OTCMKTS:NWKRF) shares climbed nearly 4% higher to US$0.54.
Its subsidiary Up Cannabis Inc was named an official supplier to the Ontario Cannabis Store.
It was a good day for cannabis stocks, but not every company fared well.
ICC International Cannabis Corp (CSE:WRLD, OTCQX:KNHBF) shares sank nearly 9% to US $0.47 by the end of the trading day.
The Vancouver-based company recently announced a strategic partnership with GreenTree International Inc, the parent company of Amercanex which operates the ACExchange, to create an electronic cannabis market platform.
The Massachusetts-based company operates cannabis facilities Delaware, Illinois, Nevada, and Maryland.
MPX Bioceutical Corporation (CSE: MPX; OTCQX: MPXEF) shares were down more than 2% to $0.81.
The Toronto-based cannabis company has been expanding its reach into the Maryland market via dispensary acquisitions.
Shares of CV Sciences Inc (OTCQX:CVSI) fell about 4% to US$6.15.
The life science company develops plant-based CBD products under its PlusCBD Oil brand.
The North American Marijuana Index, which tracks the leading cannabis stocks in the US and Canada, was up more than 1% by the end of the day.
--Updated to reflect recent share price
Contact Lenore Fedow at [email protected]