ahlam1399
02-26-2019, 11:08 PM
Cannabis stocks were mostly higher on Tuesday, as investors digested the latest flurry of announcements from companies in the sector and moves among U.S. states toward legalizing weed for adult recreational use.
Aurora Cannabis Inc. shares
ACB, +5.08% (http://www.marketwatch.com/investing/stock/acb)
ACB, +4.69% (http://www.marketwatch.com/investing/stock/acb?countrycode=ca)
آ*rose 3%, after the company said itâ??s acquiring a 51% stake in Portugalâ??s Gaia Pharma Lda., with plans to establish a local facility to produce medical cannabis and derivative products. Terms of the deal were not disclosed.
Gaia Pharma, which just won approval to build a European Union GMP-compliant cannabis cultivation facility by the Portuguese Health Ministry, will be renamed Aurora Portugal Lda. GMP, or good manufacturing practice, is the EU standard for the authorization and licensing of food and beverages, cosmetics and pharmaceutical products.
Construction of the new facility will be carried out in phases with the first expected to be completed by the third calendar quarter of 2020. The first phase is expected to result in production capacity of about 2,000 kg a year, growing to 4,000 kg a year once the second phase is completed.
Aurora-backed Australis Capital Inc.
AUSAF, +1.20% (http://www.marketwatch.com/investing/stock/ausaf)
آ*said Tuesday it was acquiring the California-based cannabis brand Mr. Natural Productions Inc. for $1.3 million. Australis is the venture capital-like arm Aurora was forced to spinout after the Toronto Stock Exchange said it would delist companies that had assets with operations in the U.S.
U.S.-listed Aphria Inc.
APHA, +5.88% (http://www.marketwatch.com/investing/stock/apha)
APHA, +5.50% (http://www.marketwatch.com/investing/stock/apha?countrycode=ca)
آ*shares rose 3.7%, after the company said it has entered a world-wide license agreement with Manna Molecular Science LLC, to develop cannabis transdermal patches. Mannaâ??s patch was developed by scientists at Massachusetts Institute of Technology and works for all cannabinoids.
Organigram Holdings Inc. shares
OGI, +8.05% (http://www.marketwatch.com/investing/stock/ogi?countrycode=ca)
OGRMF, +7.84% (http://www.marketwatch.com/investing/stock/ogrmf)
آ*rose 4%, after the company said it has signed a letter of intent with the Quebec cannabis regulator (https://www.newswire.ca/news-releases/organigram-signs-quebec-letter-of-intent-now-in-all-10-canadian-provinces-895349497.html)that means it now has distribution in all 10 Canadian provinces.
Meanwhile, in the U.S., New Mexico moved a step closer to legalizing cannabis for adult recreational use on Monday, after a house panel voted 7-3 in favor of sending a recreational cannabis measure to the full House, according to Marijuana Business Daily. (https://mjbizdaily.com/adult-use-marijuana-advances-in-new-mexico-as-panel-oks-legalization-bill/)
The stateâ??s New Democratic Gov. Michelle Lujan Grisham has said she would support legalization as long as safeguards are included against use by children. Her stance contrasts with that of her predecessor, Republican Susana Martinez, who opposed legalization and restricted the stateâ??s medical program.
Elsewhere in the sector, Canopy Growth Corp. shares
CGC, +5.16% (http://www.marketwatch.com/investing/stock/cgc)
WEED, +5.05% (http://www.marketwatch.com/investing/stock/weed?countrycode=ca)
آ*rose 2.7%, Cronos Group Inc. shares
CRON, +7.10% (http://www.marketwatch.com/investing/stock/cron)
CRON, +6.22% (http://www.marketwatch.com/investing/stock/cron?countrycode=ca)
آ*were up 4.6% in a rebound from Mondayâ??s lows, and Tilray Inc.
TLRY, +3.02% (http://www.marketwatch.com/investing/stock/tlry)
آ*was up 1.1%. Green Organic Dutchman Holdings Inc.
TGODF, +3.78% (http://www.marketwatch.com/investing/stock/tgodf)
آ*was up 1.7%.
Read also: Canopy Growth weighs on cannabis sector after restating one earnings metric (http://www.marketwatch.com/story/canopy-growth-weighs-on-cannabis-sector-after-restating-one-earnings-metric-2019-02-21)
Related: Canopy Growth co-CEO reveals top priorities for worldâ??s largest legal marijuana company (http://www.marketwatch.com/story/canopy-growth-co-ceo-reveals-top-priorities-for-worlds-largest-legal-marijuana-company-2019-02-15)
Hexo Corp.
HEXO, -1.14% (http://www.marketwatch.com/investing/stock/hexo)
HEXO, -0.80% (http://www.marketwatch.com/investing/stock/hexo?countrycode=ca)
آ*was down 0.1%, a day after Jefferies initiated coverage on the sector (http://www.marketwatch.com/story/cronos-falls-aurora-gains-after-wave-of-pot-stock-initiations-2019-02-25) and assigned that stock the equivalent of a sell rating.
CannTrust Holdings Inc. shares
CTST, +2.21% (http://www.marketwatch.com/investing/stock/ctst)
TRST, +3.39% (http://www.marketwatch.com/investing/stock/trst?countrycode=ca)
آ*were up on their second day of trading on the New York Stock Exchange. Jefferies estimates that the company has about 20% of Canadaâ??s national medical market.
For more, read: Marijuana stocks to watch: CannTrust makes its case as a major pot operator (http://www.marketwatch.com/story/marijuana-stocks-to-watch-canntrust-makes-its-case-as-a-major-pot-operator-2019-02-25)
The ETFMG Alternative Harvest ETF
MJ, +1.91% (http://www.marketwatch.com/investing/fund/mj)
آ*was up 0.7% and the Horizons Marijuana Life Sciences ETF
HMMJ, +2.70% (http://www.marketwatch.com/investing/fund/hmmj?countrycode=ca)
آ*was up 1.3%.
The S&P 500
SPX, +0.09% (http://www.marketwatch.com/investing/index/spx)
آ*was down 0.1% and the Dow Jones Industrial Average
DJIA, +0.10% (http://www.marketwatch.com/investing/index/djia)
آ*was down 0.3%.
Additional reporting by Max A. Cherney.
For more of MarketWatchâ??s coverage of cannabis, click here. (http://www.marketwatch.com/column/cannabis-watch)
</p>
Source link (http://www.marketwatch.com/news/story.asp?guid=%7B491F63EE-39D5-11E9-8984-C93EF6867C21%7D&siteid=rss&rss=1)
More (http://ahlam1399.i234.me:8888/m/2019/02/26/aurora-cannabis-shares-climb-on-news-of-medical-marijuana-deal-in-portugal/)
Aurora Cannabis Inc. shares
ACB, +5.08% (http://www.marketwatch.com/investing/stock/acb)
ACB, +4.69% (http://www.marketwatch.com/investing/stock/acb?countrycode=ca)
آ*rose 3%, after the company said itâ??s acquiring a 51% stake in Portugalâ??s Gaia Pharma Lda., with plans to establish a local facility to produce medical cannabis and derivative products. Terms of the deal were not disclosed.
Gaia Pharma, which just won approval to build a European Union GMP-compliant cannabis cultivation facility by the Portuguese Health Ministry, will be renamed Aurora Portugal Lda. GMP, or good manufacturing practice, is the EU standard for the authorization and licensing of food and beverages, cosmetics and pharmaceutical products.
Construction of the new facility will be carried out in phases with the first expected to be completed by the third calendar quarter of 2020. The first phase is expected to result in production capacity of about 2,000 kg a year, growing to 4,000 kg a year once the second phase is completed.
Aurora-backed Australis Capital Inc.
AUSAF, +1.20% (http://www.marketwatch.com/investing/stock/ausaf)
آ*said Tuesday it was acquiring the California-based cannabis brand Mr. Natural Productions Inc. for $1.3 million. Australis is the venture capital-like arm Aurora was forced to spinout after the Toronto Stock Exchange said it would delist companies that had assets with operations in the U.S.
U.S.-listed Aphria Inc.
APHA, +5.88% (http://www.marketwatch.com/investing/stock/apha)
APHA, +5.50% (http://www.marketwatch.com/investing/stock/apha?countrycode=ca)
آ*shares rose 3.7%, after the company said it has entered a world-wide license agreement with Manna Molecular Science LLC, to develop cannabis transdermal patches. Mannaâ??s patch was developed by scientists at Massachusetts Institute of Technology and works for all cannabinoids.
Organigram Holdings Inc. shares
OGI, +8.05% (http://www.marketwatch.com/investing/stock/ogi?countrycode=ca)
OGRMF, +7.84% (http://www.marketwatch.com/investing/stock/ogrmf)
آ*rose 4%, after the company said it has signed a letter of intent with the Quebec cannabis regulator (https://www.newswire.ca/news-releases/organigram-signs-quebec-letter-of-intent-now-in-all-10-canadian-provinces-895349497.html)that means it now has distribution in all 10 Canadian provinces.
Meanwhile, in the U.S., New Mexico moved a step closer to legalizing cannabis for adult recreational use on Monday, after a house panel voted 7-3 in favor of sending a recreational cannabis measure to the full House, according to Marijuana Business Daily. (https://mjbizdaily.com/adult-use-marijuana-advances-in-new-mexico-as-panel-oks-legalization-bill/)
The stateâ??s New Democratic Gov. Michelle Lujan Grisham has said she would support legalization as long as safeguards are included against use by children. Her stance contrasts with that of her predecessor, Republican Susana Martinez, who opposed legalization and restricted the stateâ??s medical program.
Elsewhere in the sector, Canopy Growth Corp. shares
CGC, +5.16% (http://www.marketwatch.com/investing/stock/cgc)
WEED, +5.05% (http://www.marketwatch.com/investing/stock/weed?countrycode=ca)
آ*rose 2.7%, Cronos Group Inc. shares
CRON, +7.10% (http://www.marketwatch.com/investing/stock/cron)
CRON, +6.22% (http://www.marketwatch.com/investing/stock/cron?countrycode=ca)
آ*were up 4.6% in a rebound from Mondayâ??s lows, and Tilray Inc.
TLRY, +3.02% (http://www.marketwatch.com/investing/stock/tlry)
آ*was up 1.1%. Green Organic Dutchman Holdings Inc.
TGODF, +3.78% (http://www.marketwatch.com/investing/stock/tgodf)
آ*was up 1.7%.
Read also: Canopy Growth weighs on cannabis sector after restating one earnings metric (http://www.marketwatch.com/story/canopy-growth-weighs-on-cannabis-sector-after-restating-one-earnings-metric-2019-02-21)
Related: Canopy Growth co-CEO reveals top priorities for worldâ??s largest legal marijuana company (http://www.marketwatch.com/story/canopy-growth-co-ceo-reveals-top-priorities-for-worlds-largest-legal-marijuana-company-2019-02-15)
Hexo Corp.
HEXO, -1.14% (http://www.marketwatch.com/investing/stock/hexo)
HEXO, -0.80% (http://www.marketwatch.com/investing/stock/hexo?countrycode=ca)
آ*was down 0.1%, a day after Jefferies initiated coverage on the sector (http://www.marketwatch.com/story/cronos-falls-aurora-gains-after-wave-of-pot-stock-initiations-2019-02-25) and assigned that stock the equivalent of a sell rating.
CannTrust Holdings Inc. shares
CTST, +2.21% (http://www.marketwatch.com/investing/stock/ctst)
TRST, +3.39% (http://www.marketwatch.com/investing/stock/trst?countrycode=ca)
آ*were up on their second day of trading on the New York Stock Exchange. Jefferies estimates that the company has about 20% of Canadaâ??s national medical market.
For more, read: Marijuana stocks to watch: CannTrust makes its case as a major pot operator (http://www.marketwatch.com/story/marijuana-stocks-to-watch-canntrust-makes-its-case-as-a-major-pot-operator-2019-02-25)
The ETFMG Alternative Harvest ETF
MJ, +1.91% (http://www.marketwatch.com/investing/fund/mj)
آ*was up 0.7% and the Horizons Marijuana Life Sciences ETF
HMMJ, +2.70% (http://www.marketwatch.com/investing/fund/hmmj?countrycode=ca)
آ*was up 1.3%.
The S&P 500
SPX, +0.09% (http://www.marketwatch.com/investing/index/spx)
آ*was down 0.1% and the Dow Jones Industrial Average
DJIA, +0.10% (http://www.marketwatch.com/investing/index/djia)
آ*was down 0.3%.
Additional reporting by Max A. Cherney.
For more of MarketWatchâ??s coverage of cannabis, click here. (http://www.marketwatch.com/column/cannabis-watch)
</p>
Source link (http://www.marketwatch.com/news/story.asp?guid=%7B491F63EE-39D5-11E9-8984-C93EF6867C21%7D&siteid=rss&rss=1)
More (http://ahlam1399.i234.me:8888/m/2019/02/26/aurora-cannabis-shares-climb-on-news-of-medical-marijuana-deal-in-portugal/)