Canadian Cannabis Stock Climbs on Harvest Milestone

Aleafia Health Inc. (TSX:ALEF), a Canadian cannabis stock, powered higher after announcing its inaugural Port Perry Outdoor Grow harvest

Sean Mason | November 11, 2019 | SmallCapPower

Low-cost cultivation news propelled a Canadian cannabis stock sharply higher Monday. Here’s some small stocks making big moves on Monday, November 11, 2019 (as of 4 pm EST):

Aleafia Health Inc. (TSX:ALEF), a Canadian cannabis stock, jumped 14% to $0.92 on Monday after announcing that Aleafia Farms Inc., its wholly-owned subsidiary, produced an inaugural Port Perry Outdoor Grow harvest yielding about 10,300 kg of dried flower, at $0.10 all-in cash cost per gram to harvest (unaudited).

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As well, shares of Neptune Wellness Solutions Inc. (TSX:NEPT) slid 17% to $3.90 as the provider of extraction, purification and formulation of health and wellness products said its second-quarter 2020 revenue slipped 8% to $6.5 million, while its net loss for the quarter widened to $20.8 million from $3.1 million during the same period last year.

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Nova Leap Health Corp. (TSXV:NLH) stock, meanwhile, continued to move higher Monday, up 30% to $0.395 following a 5% gain on Friday, after the home healthcare services company reported record third-quarter revenue of US$4,424,350, along with record quarterly EBITDA of US$324,676.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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