The cannabis sector did well Friday, as US markets moved toward a positive week.
The North American Marijuana Index, which tracks leading cannabis stocks in the US and Canada, improved 0.9% to 291.9.
Aurora Cannabis Inc (NYSE:ACB) (TSX:ACB) extended its gains after heavy-hitting Cowen analyst Vivien Azer reiterated her Outperform rating for the stock Friday. Azer said the medical cannabis company’s recent partnership with activist investor Nelson Peltz will “help accelerate performance,” according to a Barron’s report.
The share price advanced 6.7% to US$9.59 and climbed 7.3% to C$12.79 in Toronto.
1933 Industries Inc (CSE:TGIF) (OTC:TGIFF) rose after announcing the closing of a C$4.5 million private offering. The cannabidiol wellness products company issued 10 million shares at C$0.45 per share to a single buyer: entrepreneur and cannabis investor Paul Rosen. The Vancouver-based company plans to use the proceeds as general working capital.
Shares are up 3.9% to C$0.53 on the CSE and gained 7% to US$0.40 on the OTC Markets.
MedMen Enterprises Inc (CSE:MMEN) (OTCQX:MMNFF) announced Thursday that it sold two properties, earning $30.6 million in net proceeds. The properties include a storefront in Las Vegas and a production facility in Desert Hot Springs, California. The cannabis retailer plans to invest proceeds into its growth initiatives, CEO and co-founder Adam Bierman said.
The stock rose 2.7% to C$3.83 on the CSE and increased 2.5% to US$2.88 in OTC Markets trading.
Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) said that its Dream Water subsidiary has new supply agreements with Walmart Inc (NYSE:WMT) and Kroger Co (NYSE:KR). The lifestyle company’s liquid sleep aid is available in 30,000 stores in the US and Canada.
Investors were resting easy, raising the share price 9.9% to C$0.78 in Canada and pushing it up 7.8% to US$0.58 on the OTC Markets.
Terra Tech Corp (OTCQX:TRTC) CEO Derek Peterson issued a letter to shareholders Friday acknowledging the companies difficulties in 2018 and recommitting to expansion in California. The agricultural company intends to take an approximately $5 million tranche of the $40 million financing it signed in March 2018. The Irvine, California-based company is also pursuing strategic alternatives for some of its operations in Nevada and California.
The share price plunged nearly 16% to $0.99.
Canopy Growth Corp (NYSE:CGC) slipped less than 0.1% to US$45.50.
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