Cannabis stocks had a promising start to Tuesday, with broad gains across North American markets.
The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was up 1.47% to 305.16 by Tuesday's close. The Horizons Marijuana Life Sciences Index ETF edged up 0.1% at C$22.80.
The Canadian cannabis producer reported 4Q revenue of US$5.6 million, significantly higher than the US$1.6 million a year earlier. But the company still had a net loss of US$11.6 million, or US$0.06 per share, a swing from a profit of a penny per share in the year-ago quarter.
Curaleaf Holdings Inc (CSE:CURA) (OTCMKTS:CURLF) shares lagged Tuesday, down 3.7% at US$8.90 in New York and down 3.6% at $11.90 in Toronto.
Shares of the Toronto-based company were up 10% at C$0.55 in Toronto and climbed 7.8% at US$0.42 in New York.
The company reported sales of C$5.3 million of cannabis in the adult-use and wholesale markets and posted a net loss of C$9,423,000 or C$0.01 per share.
Contact Katie Lewis at [email protected]