Based on news and market action in the first half of the trading session, here are a handful of marijuana stocks we'll be watching in the rest of today's trading session.
GW Pharmaceuticals Plc (NASDAQ:GWPH)
In midday trading, shares of GW Pharmaceuticals are falling roughly 7% after the company's earnings release yesterday. Although the company is optimistic regarding progress on their NDA for Epidolex, revenues declined on unfavorable changes in exchange rates and the company reported a higher net loss compared to the comparable 9 months of last year. We'll be watching to see how the rest of the trading day plays out for shares of GW Pharmaceuticals given this mixed earnings release.
Related: 8 Biggest Takeaways From GWPH's Q3 Earnings Release
Umbral Energy Corp. (CSE:UMB)(OTC:UMBBF) & Canopy Growth Corp. (TSX:WEED)(OTC:TWMJF)
This morning, Umbral Energy announced that the company's 75% owned late-stage ACMPR applicant, PhyeinMed Inc. has entered into an agreement to supply cannabis via Canopy's CraftGrow line on their Tweed Main Street online store. In midday trading Tuesday, shares of Umbral are gaining 10% on the CSE. Umbral's OTC Markets symbol hasn't yet traded today. Shares of Canopy Growth are higher by more than 2% and roughly 1.5% on the CSE and the OTC Markets respectively.
Related: Umbral Energy's Phyeinmed Joins Canopy's CraftGrow Program
22nd Century Group Inc. (NYSE American: XXII)
After posting massive gains recently, shares of 22nd Century Group are giving back roughly 2% in midday trading Tuesday. Today's modest losses come ahead of the company's earnings release after the close today. We'll be watching to see how shares of 22nd Century Group trade heading into the release.
Related: 22nd Century to Use Industrial Hemp to Restore Polluted Lands
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE)
Following yesterday's bloodbath on news of a failed clinical trial, shares of Zynerba Pharmaceuticals are down more than 4% in midday trading Tuesday. We'll be watching to see if shares continue to fall as the market digests the news and yesterday's massive move.
Related: Zynerba Shares Plunge 50% On Clinical Trial Data
That's all for now, but we'll be sure to keep readers posted regarding important developments in these names and in the cannabis industry worldwide.
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