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Buds & Duds: Cannabis stocks level out but Weekend Unlimited shares continue to rise on new platform

Also on the move were Green Organic Dutchman Holdings, Namaste, Aleafia Health and HEXO

Cannabis flower
Weekend Unlimited announced it is launching a new customer relationship management platform, which sent shares soaring

Cannabis stocks saw a healthy mix of red and green on Friday, with the many stocks seeing gains across North American markets.

The Horizons Marijuana Life Sciences Index ETF was up 0.6% to C$18.32. The OTCQX Cannabis Index inched down 0.2% at 738.2 points.

Buds

Top gainers on Friday included Weekend Unlimited Inc (CSE:POT) (OTCMKTS:WKULF), the lifestyle-branded recreational cannabis company, which announced yesterday is launching a new customer relationship management platform.

Shares were up 14.3% to C$0.08 on the CSE and up 1% to US$0.06 on OTC Markets.

The company is implementing a sales order and inventory management system with the goal of making business-to-business sales more efficient and providing a seamless ordering experience to customers.

READ: Recreational cannabis company Weekend Unlimited unveils new sales management system

The Green Organic Dutchman Holdings Ltd (TSE:TGOD) (OTCMKTS:TGODF) shares were on the rise Friday, after it announced its flagship facility in Quebec received organic certification earlier in the week. 

Shares rose 2.2% at C$3.25 in Canadian trading, up 1% at US$2.47 in New York.

The Valleyfield, Quebec facility was certified as organic by Pro-Cert, one of North America’s leading certification bodies. Valleyfield will have over 1.3 million square feet of grow space once completed, making it the largest organic cannabis facility in the world.

READ: The Green Organic Dutchman hails organic certification at flagship Valleyfield facility

Other gainers Friday included Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) whose shares were on the rise. 

Shares were up 3.3% at C$0.62 in Canadian trading. 

Duds

Laggards Friday included HEXO Corp (TSE:HEXO) (NYSEAMERICAN:HEXO), which was down 1.6% at C$6.97 in Canadian trading. 

Earlier this week, Oppenheimer cut the company’s rating to perform from its previous outperform rating.

Other stocks detracting Friday included Aleafia Health Inc (TSE:ALEF) (OTCMKTS:ALEAF), after closing a $40.3 million public offering. 

Shares were down 1.5% at C$1.04 in New York, down 2.2% at C$1.35 in Canadian trading. 

Contact Katie Lewis at [email protected]

Follow her on Twitter @kelewis

Quick facts: Weekend Unlimited Inc.

Price: 0.055 CAD

CSE:POT
Market: CSE
Market Cap: $25.08 m
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