The closing bell has rung and its time to take stock of the day's market action. The Solactive North American Medical Marijuana Index dropped more than 1.5% in today's trading session. Losses in the bigger Canadian licensed producers as well as in some of the NASDAQ-listed cannabinoid biotech names contributed to the majority of today's losses in the index. That being said, company specific news drove a few names from our global marijuana stock database significantly higher on the day. Here are three of the biggest marijuana stock gainers in trading on Monday, August 21, 2017.
Abattis Bioceuticals Corp. (CSE:ATT)(OTC:ATTBF)(FRA:115)
On Friday, Health Canada granted two new cultivation licenses, one to International Herbs Medical Marijuana’s second site and one to Experion Biotechnologies. Experion Biotechnologies is 18.75% owned by Northern Vine Laboratories, and Northern Vine Laboratories is majority owned by Abattis Bioceuticals. Shares of Abattis Bioceuticals responded well to this news, gaining 7.84% in today's trading on the OTC Markets. Volume was more than 4x the company's 30-day average volume. Abattis' CSE listed shares finished the day flat. Learn more about Abattis Bioceuticals by checking out the company's marijuana stock profile linked above.
Related: Experion Biotechnologies Approved as Licensed Producer Under ACMPR
MyDx Inc. (OTC:MYDX)
Shares of MyDx finished today's trading session higher by 6.25% on volume that was more than double the company's 30-day average volume. This afternoon, MyDx reported the company's financial results for their second fiscal quarter. Revenues increased ~47% from the first quarter of this year, gross margin improved and the company incurred net income for the first time in its history. Learn more about MyDx by checking out the company's marijuana stock profile linked above.
Related: MyDx Just Filed a Lawsuit Against its Ex-COO - Here's the Details
Umbral Energy Corp. (CSE:UMB)(OTC:UMBBF)(FRA:2UE)
Umbral Energy shares rose 15.79% in today's trading session on the CSE. Shares of Umbral didn't trade today on the OTC Markets. This morning, Umbral announced that the company has closed on their previously announced acquisition of an additional 25% of late stage ACMPR applicant, PhyeinMed.
Related: Umbral to Acquire Additional 25% of Late Stage ACMPR Applicant
Conclusion
Find more about today's gainers by checking out their respective profiles in our global marijuana stock database via the linked tickers above. To stay up to date with important developments in the cannabis industry, be sure to subscribe to one or more of our free email newsletters. Don't be a stranger; connect with The Daily Marijuana Observer on Facebook, Twitter, StockTwits and Instagram!
Now Read: Today's Biggest Marijuana Stock Losers
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