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Buds & Duds: Tilray shares surge after Anheuser-Busch deal while GrowGeneration shares take a hit

Tilray entered into a research partnership with iconic beer company Anheuser-Busch

Hand holding a marijuana leaf in front of the sun
Shares of CV Sciences and Isodiol International were also on the rise

Buds

Cannabis stocks were mixed Thursday, but there were a few budding stocks rolling higher.

Tilray Inc (NASDAQ:TLRY) was a top gainer on the North American Marijuana Index after entering into a research partnership with Anheuser-Busch InBev SA (NYSE:BUD). Shares climbed more than 13% to US$80.40 in Thursday afternoon trading.

READ: Tilray and Anheuser-Busch InBev enter partnership to research cannabis drinks

Anheuser’s Canadian subsidiary Labatt Breweries will team up with Tilray’s subsidiary High Park Company with each company investing up to US$50 million to research non-alcoholic beverages containing THC and CBD.

Isodiol International Inc (OTCQB:ISOLF) (CSE:ISOL) shares rose about 2.5% to US$1.21. The Vancouver-based company develops hemp-based consumer markets for distribution in Canada, Latin America, Asia, and Europe.

CV Sciences Inc (OTCQX:CVSI) shares jumped nearly 3% to US$4.73. The life science company is expected to present at Biotech Showcase Investor Conference in January.

MariMed Inc (OTCQB:MRMD) shares were up about 2% to US$3.04. The Massachusetts-based company is expanding its hemp operations and recently released a statement about what the passage of the 2018 Farm Bill means for the company’s hemp-derived CBD products.

Duds

GrowGeneration Corp (OTCQX:GRWG) was a top decliner, falling more than 10% to US$2.28. The Colorado-based company operates retail hydroponic stores, selling farming soil, hydroponic equipment, lighting, plant nutrients, and other gardening products.

Golden Leaf Holdings Ltd (CSE:GLH) (OTCQB:GLDFF) shares fell around 1.5% to US$0.08. The company recently announced it was no longer interested in acquiring cannabis-focused agriculture company Terra Tech Corp (OTCQX:TRTC).

Shares of GW Pharmaceuticals plc (NASDAQ:GWPH) dipped more than 5% to US$104.28. Its lead product Epidiolex is an oral medicine designed to treat forms of childhood epilepsy.

READ: Zynerba on track to report cannabidiol gel treatment results for Fragile X childhood disorder

Emerald Health Therapeutics Inc (CVE:EMH) (OTCQX:EMHTF) shares fell more than 10% to US$1.77. The medical cannabis company recently received products licenses and natural products numbers from Health Canada for its Endo product line.

iAnthus Capital Holdings Inc (CSE:IAN) (OTCQB:ITHUF) shares were down around 2.5% to US$4.04. The New York-based company opened its first dispensary in Florida under its GrowHealthy brand.

The North American Marijuana Index was down around 2.2% to 208.16.

--Updated to reflect recent share price

 

Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

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