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Buds & Duds: Cannabis stocks hold steady, Green Organic Dutchman streamlines leadership team

TGOD announced Wednesday that two executives are leaving the company

cannabis leaves
Curaleaf, Next Green Wave and Planet 13 were also on the move

Cannabis stocks held steady on Thursday as mixed share movement caused indices to remain flat.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, eased 0.4% at 112.7 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF perked up 0.9% at C$8.20, while the OTCQX Cannabis index retreated 0.9% to 440.5 points.

Buds

The Green Organic Dutchman Holdings Ltd (TSE:TGOD) (OTCMKTS:TGODF) said it is moving forward with a plan to streamline its leadership, announcing Wednesday that two executives are leaving the company.

TGOD president Csaba Reider and vice president of sales Mike Gibbons are saying goodbye to the cannabis firm, with their responsibilities being rolled into other executive’s positions.

Shares of TGOD jumped 7.6% in Canada at C$0.71 and 2.5% over the counter at US$0.52.

Elsewhere, US multistate operator Curaleaf Holdings Inc (CSE:CURA) (OTCMKTS:CURLF) jumped 5% on in Canada and 4.1% over the counter to US$6.32. The vertically integrated cannabis company is riding high after the state of Utah granted the company a medical cannabis retail license, expanding Curaleaf’s reach to 13 states.

Next Green Wave Holdings Inc (CSE:NGW) (OTCMKTS:NXGWF) was also up after its announced some leadership additions to its board of directors. Shares of the Vancouver-based cannabis company jumped 11.8% to nearly C$0.10 and 3.6% to US$0.07 on the OTC Markets.

Duds

Despite delivering positive preliminary financial results, Planet 13 Holdings Inc (CSE:PLTH) (OTCMKTS:PLNHF) dropped 1.3% in Canada to C$2.32 and 1.6% on the OTC Markets to US$1.78. The company said it served approximately 695,000 customers in 2019 at its Las Vegas retail store for preliminary unaudited revenue of around US$63 million.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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