It was a rocky start to the week for cannabis companies, but there were a few budding stocks this afternoon.
Aphria Inc (TSX:APHA) (NYSE:APHA) was one of the best-performing cannabis stocks, up about 5% to $5.48 in Monday afternoon trading.
The Canadian cannabis company shares have rallied following a second report from short-seller Hindenburg Research, which has accused the company of being a “shell game with a cannabis business on the side.”
The Toronto-based company announced it was awarded four conditional retail dispensary licenses in Nevada.
The company leases specialized industrial properties to state-licensed operators for their regulated medical cannabis facilities.
Most of the North American cannabis stocks were in the red this afternoon.
The North American Marijuana Index, which tracks the leading cannabis stocks in the US and Canada, slipped nearly 1.4%.
CannTrust Holdings Inc (OTCMKTS:CNTTF) (TSX:TRST) was one of the worst-performing cannabis stocks with shares falling nearly 5% to US$5.55.
Shares of The Supreme Cannabis Company (TSXV:FIRE) (OTCQX:SPRWF) were down 4.5% to US$1.06.
The Toronto-based company recently teamed up with rapper Wiz Khalifa’s Khalifa Kush Enterprises to launch a line of premium cannabis products.
The company doubled the amount of cannabis sold in its third quarter but reported a decline in average selling prices.
Aurora Cannabis Inc (NYSE:ACB) shares dipped almost 0.8% to US$5.70.
Contact Lenore Fedow at [email protected]