logo-loader
The Green Organic Dutchman Holdings Ltd

Buds & Duds: Cannabis stocks slip on Tuesday but Aurora shares jump as it predicts 4Q revenue will hit over C$100M

Also on the move were The Green Organic Dutchman, Arcadia Biosciences, Curaleaf and Aleafia

Aurora Cannabis Inc - Buds & Duds: Cannabis stocks slip on Tuesday but Aurora shares jump after it predicts 4Q revenue will hit above C$100M
Aurora shares were on the rise as it announced revised revenue and production guidance

Cannabis stocks dipped slightly on Tuesday after significant drops yesterday on the back of broad-based losses across North American markets. 

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, dropped 0.6% to hit 213 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF was down 1.2% to C$16.69, while the OTCQX Cannabis Index fell 2.2% to 710.2 points.

Buds

Shares of Aurora Cannabis Inc (TSE:ACB) (OTCMKTS:ACBFF) were on the rise Tuesday, after it announced revised revenue and production guidance, estimating revenue will increase to between C$100 million and C$107 million in its fiscal fourth quarter. 

Shares were up 8.9% at US$6.74 in New York, and up 6.3% at C$8.92 in Toronto.

Aurora also said its estimated production is between 25,000-30,000 kilograms, up from previous guidance of 25,000 kilos. 

Shares of The Green Organic Dutchman Holdings Ltd (TSE:TGOD) gained traction Tuesday, up 2.6% at C$3.17 in Toronto. 

Late last week, the firm announced that the cannabis cultivation licenses for its modern greenhouse facility in Ancaster, Ontario have been extended until August 2022. The licenses allow TGOD to cultivate, process and sell cannabis from the Ancaster site.

READ: Arcadia Biosciences forms hemp extraction joint venture with Legacy Ventures Hawaii

Other gainers Tuesday included Arcadia Biosciences Inc (NASDAQ:RKDA), which announced on Tuesday that it is getting into the business of sun-grown hemp through a joint venture with Legacy Ventures Hawaii. 

Shares were up 2.6% at US$1.97 in New York trading.

The partnership, known as Archipelago Ventures, pairs Arcadia’s genetic expertise and cultivation facility in Hawaii with Legacy’s extraction and sales experience.

Duds

Laggards Tuesday included Curaleaf Holdings Inc (CSE:CURA) (OTCMKTS:CURLF), which was down another 5.1% at C$9.82 in Toronto, and off 1% at US$7.40 in New York. 

Last week, the firm was cautioned by the US Food and Drug Administration for allegedly illegally selling unapproved products containing CBD online with unsubstantiated claims that the products treat cancer.

Other decliners Tuesday included Aleafia Health Inc (TSE:ALEF) (OTCMKTS:ALEAF), which dropped 9.6% to C$1.13 in Toronto. 

Last week, the firm's subsidiary Emblem Cannabis Corporation completed the largest adult-use cannabis order in company history, valued at over C$1 million. 

Contact Katie Lewis at [email protected]

Quick facts: The Green Organic Dutchman Holdings Ltd

Price: $2.42

Market: TSX
Market Cap: $666.58 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of The Green Organic Dutchman Holdings Ltd named herein, including the promotion by the Company of The Green Organic Dutchman Holdings Ltd in any...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Green Organic Dutchman reports positive results from...

The Green Organic Dutchman (TSE:TGOD-US: TGODF) Vice President, Global R&D Dr Amyn Sayani  joined Steve Darling from Proactive Vancouver on Skype to chat about a study they did with Caliper Food to compare the patent-pending water-soluble cannabinoid technology, Caliper CBD, with CBD in...

1 week, 3 days ago

2 min read