Cannabis Central: Biggest Winners & Losers
TM editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.
Out of 250+ marijuana and marijuana-related stocks listed on the CSE (155), TSXV (42), TSX (18), NASDAQ (18), NYSE (11) and the NEO (7) only the following 8 stocks saw noteworthy gains (4) and losses (4) on Monday, December 23, 2019. Here's why.
Top 4 Gainers On Monday & Why
- BevCanna Enterprises Inc. (CSE: BEV) (OTC: BVNNF) shares closed the trading day up 28% as a result of the company:
- exercising its option to acquire Greener Frontiers Corporation, a company that converts extracted cannabis into a fast-acting, tasteless, odorless, water-soluble powdered ingredient, thereby giving BevCanna the ability to produce a portfolio of cannabis-infused beverage formats that will complement its existing expertise in ready-to-drink products.
- MJardin Group, Inc. (CSE: MJAR) (OTCQX: MJARF) shares closed the trading day up 22% in response to the company:
- receiving a cultivation and processing license from Health Canada for its 120,000 sq. ft. retro-fitted cultivation facility located in Winnipeg, Manitoba.
- TILT Holdings Inc. (CSE: TILT) (OTCQB: TLLTF) shares closed the trading day up 18% although no specific reason can be found for the surprising increase.
- Isracann Biosciences (CSE: IPOT) (OTC: ISCNF), the first pure-play cannabis firm in Israel to list in Canada and U.S, saw its shares close the trading day up 18% in response to its announcement that it had:
- entered into a memorandum of understanding for a joint venture with a late-stage cannabis farm in Israel in which the company will capitalize the build-out of the remaining construction in exchange for an economic interest in the project.
Top Losers On Monday & Why
- Akerna (NASDAQ: KERN) shares declined 18% in the aftermath of its announcement that it is buying fellow tech cannabis player Ample Organics for C$60 million.
- Green Growth Brands (CSE: GGB) (OTCQB: GGBXF) shares declined a further 15% as a result of its termination last week of a proposed merger with MXY Holdings LLC ("Moxie").
- Veritas Farms, Inc. (OTCQB: VFRM) shares declined 15% in spite of the fact that its CEO, Alexander M. Salgado, would be appearing on Yahoo Finance’s “On The Move with Adam Shapiro and Julie Hyman” on Tuesday.
- Body and Mind Inc. (CSE: BAMM) (OTCQB: BMMJ) shares declined 14% in anticipation of disappointing Q1 2020 financial results being released on Tuesday.
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