Cannabis indices sank across the board on Thursday as pot giant Aurora Cannabis missed its own guidance in the quarter.
The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was down 1.6% at 185.9 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF fell 2.3% at C$15.01, while the OTCQX Cannabis Index sank 1.5% at 672.3 points.
A few cannabis stocks shone brightly on an otherwise gloomy trading day.
Shares of Empower Clinics Inc (CSE:CBDT) (OTCMKTS:EPWCF) rose 7.1% in Thursday morning trading after the Vancouver-based company announced its participation at a key investor conference.
Empower’s subsidiary Sun Valley Health is participating as a marquee exhibitor at the Franchise Expo in Chicago where it will highlight double-digit patient growth this year.
Cannabis One Holdings Inc (CSE:CBIS) shares also ran 1.3% higher after it closed a C$1.8 million financing to fund new acquisitions and expansion opportunities.
The Edmonton-based company reported C$98.9 million in net revenues for the quarter ended June 30, up from C$19.1 million a year ago but lower than the range of between $100 million and $107 million predicted in company estimates released last month.
Its shares also fell sharply in New York, down 9.4% at US$5.87.
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