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Buds & Duds: MariMed riding high while Aphria shares take a hit

Massachusetts-based MariMed is scaling up its hemp-derived CBD production

Cannabis plant in the sunlight
Shares of Sunniva and Golden Leaf Holdings were on the rise

Buds

The North American Marijuana Index is poised to end the day on a positive note with a few budding stocks standing out.

The index, which tracks the leading cannabis stocks in the US and Canada, was up 1.7% to 209.76.

READ: Aphria says Green Growth Brands' takeover bid undervalues cannabis company

MariMed Inc (OTCQB:MRMD) was one of the best-performing cannabis stocks, up about 18% to US$3.68 in Monday afternoon trading.

The Massachusetts-based medical cannabis company has been ramping up its hemp-derived CBD production in light of the passage of the 2018 farm bill.

Shares of Sunniva Inc (CSE:SNN) (OTCQB:SNNVF) were on the rise, climbing more than 9% higher to US$2.52.

The cannabis company announced the closing of its acquisition of California-based cannabis distribution company LTYR Logistics LLC.

Golden Leaf Holdings Ltd (CSE:GLH) (OTCQB:GLDFF) shares jumped more than 20% to US$0.10.

The Toronto-based cannabis company recently named William Kulczycki as its new CEO.

Emerald Health Therapeutics Inc shares were up more than 6% to C$2.76.

The company’s joint-venture Emerald Health Naturals received products licenses and natural products numbers from Health Canada earlier this month.

Duds

Aphria Inc (TSX:APH) (OTCQB:APHQF) shares took a hit, slipping more than 9% to US$5.67.

The cannabis producer received a C$2.1 billion takeover bid from Green Growth Brands Ltd (CSE:GGB), but said the offer undervalues the company.

Shares of Terra Tech Corp (OTCQX:TRTC) were down nearly 9% to US$0.56.

The company’s merger with Golden Leaf Holdings fell through earlier this month.

Tilray Inc (NASDAQ:TLRY) shares dipped more than 5% to US$71.08.

Shares of Aurora Cannabis Inc (NYSE:ACB) (TSX:ACB) were down nearly 5% to US$4.97.

 

Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

 

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