Marijuana stocks declined further today (-1.3%) and are now down 3.4% for the month. As can be seen in the table below, decliners outnumbered gainers by a large number. This post outlines the reasons why 3 stocks experienced double digit moves.

The cannabis market consists of 319 publicly-traded companies of which the vast majority trade for less than $1/share and it is acknowledged that even small changes in the price can have a very large affect on the percentage change. Because of the aforementioned, this post only highlights those stocks that trade above $1/share.

Today's Major Winners & Why

1. Greenlane Holdings Inc. (NASDAQ: GNLN) +12%
   • the stock traded up based on improved market sentiment for companies supplying the cannabis accessories market.
2. Medicine Man Technologies Inc. (OTCQX: MDCL) +12%
   • announced today that it has been named to the 2020 OTCQX Best 50 (see the complete list here), a ranking of top-performing companies traded on the OTCQX Best Market last year.

Today's Major Loser & Why

1. KushCo Holdings Inc. (OTC: KSHB) -12%
   • announced today that it has entered into definitive agreements with investors for the purchase and sale of 10,000,000 units with gross proceeds of the offering, net of expenses, expected to be approximately $16 million which should help the company offset a liquidity crisis.