No cannabis stocks made major gains Friday. 420 Investor Alan Brochstein attributed the weakness to stocks breaking technical support in a market where sentiment has been negatively impacted by CannTrust placing a hold on product sales.
Losers
- Aurora Cannabis ACB shares fell 5.71% to close at $6.77, breaking below its June support level at around $7.10 and now testing February support at $6.80.
- Aphria APHA shares dropped by 5.04% to close at $6.22.
- Canopy Growth CGC shares dropped by 7.9% to close at $34.16, breaking below the $38 level, which served as a bottom throughout June to its lowest level since January.
- Cronos Group CRON shares tumbled by 6.01%, eventually closing at $14.24.
- CannTrust Holdings CTST shares fell 17.36% to close at $2.57, plummeting again after voluntarily halting sales.
- Greenlane Holdings GNLN shares fell 2.88% to close at $7.77.
- GW Pharmaceuticals GWPH shares dropped by 1.25% to close at $172.45.
- Hexo Corp HEXO shares tumbled by 5.83%, eventually closing at $4.85.
- India Globalization Cap IGC shares tumbled by 4.29%, eventually closing at $1.56.
- Innovative Industrial IIPR shares dropped by 8.37% to close at $126.10.
- iAnthus Capital Holdings ITHUF shares fell 4.49% to close at $2.75.
- Akerna KERN shares tumbled by 2.2%, eventually closing at $13.79.
- MedMen Enterprises MMNFF shares fell 5.46% to close at $2.25.
- New Age Beverages NBEV shares tumbled by 3.75%, closing at $4.11, after confirming the closing of its Brands Within Reach acquisition.
- OrganiGram Holdings OGI shares tumbled by 7.17%, closing at $5.83.
- Pyxus International PYX shares dropped by 1.4% to close at $15.45.
- Tilray TLRY shares dropped by 4.09% to close at $43.34, although its first batch of medical cannabis oil reached Ireland today.
- Therapix Biosciences TRPX shares did not move, opening and closing at $2.35.
- cbdMD Inc YCBD shares tumbled by 6.24%, eventually closing at $4.36, although it was named the "Brand to Watch" by Brightfield Group. The report said cbdMD's strategic partnerships in sports and fitness, coupled with its charitable efforts, have all contributed to its continued rise in the CBD industry..
- Zynerba Pharmaceuticals ZYNE shares tumbled by 5.28%, closing at $13.64.
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