In today's trading session broad equity market moves were a sideshow compared to the volatility in marijuana stocks. That being said, the Dow lost 29 points in today's session and the TSX Composite finished down 0.13% today.
Given the large volume of pessimistic news in the past 24 hours regarding the Canadian Licensed Producers under ACMPR, shares of most of the LPs (regardless if they released news or not) came under pressure in today's trading session.
The cannabis sector more broadly also took note of the selling pressure in the Licensed Producers and was generally down on the day.
Don't be discouraged by today's market moves, instead use this 'sale on pot stocks' to your advantage! Do additional research on the names in your watch list, and look to lower prices as an opportunity to get in stocks you like while they are 'on sale'.
Across our cannabis-related stock databases, below are some names that were under pressure in trading on Tuesday, March 7th, 2017.
Aurora Cannabis, Inc. (TSXV:ACB)(OTC:ACBFF)(FRA:21P)
Following their acquisition announcement yesterday afternoon, shares of Aurora Cannabis came under pressure in today's trading session. As of the European close earlier, Aurora shares on the Frankfurt Börse finished at €1.76, down 5.78% on the day. On the TSX Venture exchange, shares of ACB closed at CAD$2.39, down 7.00% versus their previous close of CAD$2.57. Last, but not least ACBFF closed today's trading at $1.78, down 6.76% on the day. Volume in shares of Aurora's OTC Markets listing was higher than the company's 30-day average trading volume of 718,000 shares.
Cannabis Science, Inc. (OTC:CBIS)
Cannabis Science closed today's trading session at $0.0847 per share. This marked a 8.33% decline from their previous close of $0.0924. Today's volume in shares of CBIS was lower than the company's 30-day average trading volume of over 63 million shares.
Earth Science Tech, Inc. (OTC:ETST)
Shares of Earth Science Tech finished the trading day at $2.06, down 11.41% from their previous close of $2.3254. Volume in shares of ETST was lower than the company's 30-day average trading volume of 109,000 shares.
OrganiGram Holdings, Inc. (TSXV:OGI)(OTC:OGRMF)(FRA:0OG)
Following their response to a class-action lawsuit relating to the recent recall, shares of OrganiGram Holdings came under pressure in today's trading session. As of the Frankfurt close earlier, shares of OrganiGram were down 5.87% at €7.69. On the TSX Venture Exchange, OGI closed at CAD$10.92, down 7.14% from their previous close. Shares of OGRMF finished down 7.14% on the day at $8.1458. Volume in OrganiGram's OTC listing was higher than their 30-day average volume of 336,000 shares.
Canopy Growth Corp. (TSX:WEED)(OTC:TWMJF)(FRA:11L1)
Earlier today, Canopy Growth Corp. responded to a proposed class-action lawsuit related to the product recall at Mettrum. As a reminder, Canopy Growth Corp. acquired 100% of Mettrum Health Corp. on January 31st, 2017. That being said, the possible legal action had shares of Canopy down significantly in today's trading session. As of the European close earlier, shares of Canopy on the Frankfurt Börse closed at €7.69, down 5.87% on the day. On the TSX, shares of WEED fell 7.14% from their previous close of CAD$11.76 to finish the day at CAD$10.92. Their U.S. listing lost 7.14% on the day, closing at $8.1458. Volume in TWMJF on the OTC markets was higher than their 30-day average trading volume.
If you see a marijuana company here that grabs your attention, find out more by checking out their stock profile in our marijuana stock database via the linked ticker symbols.
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