Cannabis Investment Club

[JohnCM]

Pot Stocks & ETFs: Top News In The Cannabis Industry For The Week

Javier Hasse - Benzinga Staff Writer - February 02, 2018

North American cannabis stocks took a beating this week, with the North American Marijuana Index posting a 27.2 percent loss, largely on the back of poor performance among Canadian stocks.

"The Canadian market collapsed this week after over $1.2 billion of deal offerings from publicly-traded LPs so far in 2018,” 420 Investor Alan Brochstein told Benzinga. “Concerns about the Aphria purchase of Nuuvera perhaps also triggered a loss of confidence by investors in the sector, as it was hard to justify financially, at least based upon the information provided.”

For its part, the United States Marijuana Index, which tracks 15 of the largest marijuana stocks in the U.S., also slipped, closing the week down 18.1 percent.

“Many of the more speculative names were hit the hardest in the U.S. Traders seemed to be shaken out of the market beginning on the first after piling into names like Hemp Americana, PotNetwork, Rising India, Sunset Island Group and others,” Brochstein said.

The Horizons Marijuana Life Sciences Index ETF HMLSF 11.12% lost 29.61 percent. Meanwhile the ETFMG Alternative Harvest ETF MJX 7.57% shed 19.2 percent of its value.

Here are some of the top marijuana stocks in U.S. exchanges and how the performed this week:

Aurora Cannabis Inc
ACBFF 17.84%
tumbled 36.8 percent

GW Pharmaceuticals PLC- ADR
GWPH 1.77%
slipped 3.8 percent

Cronos Group Inc
PRMCF 15.19%
plummeted 33.75 percent

Canopy Growth Corp
TWMJF 13.59%
lost 31.9 percent

Cannabis Sativa Inc
CBDS 7.09%
took a 13.4 percent dive

THC Biomed Intl Ltd
THCBF 22.36%
closed the week down 38.25 percent

Aphria Inc
APHQF 12.13%
dropped 32.3 percent

Scotts Miracle-Gro Co
SMG 0.24%
plunged 16.2 percent

MedReleaf Corp
MEDFF 12.31%
tumbled 33.75 percent

CannTrust Holdings Inc
CNTTF 10.73%
fell 28.5 percent

In The News

MassRoots Inc ( JCM - I hate this company )
MSRT 8.04%
completed a $4.75 million raise, CEO Isaac Dietrich announced on Thursday.

DOJA Cannabis andTokyo Smoke closed their merger, forming Hiku Brands Company Ltd. ( Name change to HIKU )
DJACF 17.95%
. Hiku is “Canada's first premium cannabis brand house with vertically integrated operations.”

Cannabis lifestyle brand Jane West launched an equity crowdfunding campaign aimed at raising $1.07 million by April 20. Proceeds will be used to support a sales expansion strategy.

New Cannabis Ventures released a new index that tracks Canadian cannabis licensed producers. The Canadian Cannabis LP Index includes 28 stocks, and is down 3.9 percent year-to-date.

Meanwhile, Green Market Report announced a 30-stock index of its own: the Green Market Report Index.

CNVest announced a pitch contest in the context of its April 9 "CNVest: Terps and Tech" event. The winner will get $10,000 in a big-check format. U.S. and Canadian startups in legal medical or recreational cannabis, and hemp markets, are welcome to participate. Companies need to have been founded on or after Jan. 1, 2015; raised at least $50,000, but no more than $1.5 million, from at least one accredited investor; and not closed a Series A funding round? yet.

Venture capital firm Canopy launched a $50 million venture fund targeting growth stage companies that provide value in the cannabis supply chain.

iAnthus Capital Holdings Inc
ITHUF 11.29%
closed its acquisition of New York-based Citiva Medical and Citiva USA for approximately $18 million. The purchase provides access to New York State’s colossal population of 20 million people.

ABCANN GLOBAL CORP
ABCCF 9.39%
announced a $70 million bought deal aimed at the completion of two facilities, among other things.