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Buds & Duds: Cannabis stocks stay flattish, Youngevity dips after reorganizing its board

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, lost 0.3% to 96.8 points

WeedMD Inc -
Youngevity announced that it was reorganizing its board so that a majority of its members would be independent directors

It was a sleepy day in the cannabis sector, and the major indices were a mixed bag.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, lost 0.3% to 96.8 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF rose 0.5% at C$8.22, while the OTCQX Cannabis index decreased by 0.7% to 396.2 points.

Buds

No single marijuana stock ran away with the day, but plenty of companies made modest gains.

Green Thumb Industries Inc (OTCMKTS:GTBIF) gained 4.2% to US$8.71, Innovative Industrial Properties Inc (NYSE:IIPR) increased 2.5% to US$95.15 and Cronos Group Inc (NASDAQ:CRON) rose 1.9% to $6.86.

Duds

Youngevity International Inc (NASDAQ:YGYI), a multi-channel lifestyle company which operates a commercial hemp enterprise, saw its shares dip slightly.

The company announced that it was reorganizing its board so that a majority of its members would be independent directors, in accordance with Nasdaq rules.

Youngevity stock dropped 2.9% to $1.36.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

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