The Canadian marijuana stocks we’ve weeded out bucked the trend this past Thursday, finishing the day higher within a broad-based cannabis sector sell off
SmallCapPower | September 17, 2018: Thursday, September 13, 2018 was an unlucky day for investors in Canadian marijuana stocks. Canopy Growth (TSX:WEED), Aurora Cannabis (TSX:ACB), and Aphria Inc (TSX:APH) saw their share prices decline by an average of 12.5%, a trend that permeated much of the Canadian cannabis space. Today we have identified three Canadian marijuana stocks that bucked the trend and finished the trading day higher on Thursday.
Tilray Inc. (NASDAQ:TLRY) – US$119.76
Tilray is company focused on medical cannabis research, cultivation, and distribution. The company operates internationally through its subsidiaries in Australia, Canada, and Germany. The Company’s stock price climbed after it announced on September 13 that it had obtained regulatory approval to export flower-based products to Germany. This supplements the oil-based products Tilray already exports to Germany.
TerrAscend Corp. (CSE:TER) – $5.38
TerrAscend is a company that serves the medical cannabis market through its subsidiaries. These include Solace Health, a licensed producer of medical cannabis, TerraHealth Network, a clinical support and educational platform, and SolaceRx, delivering innovative and specialized pharmaceutical products for healthcare professionals with the goal of addressing unmet medical needs. On August 24, 2018, the Company announced that Solace Heath had entered into an agreement with Nova Scotia Liquor Corporation to supply the province of Nova Scotia with cannabis products for use in the recreational market.
Kalytera Therapeutics, Inc. (TSXV:KALY) – $0.12
Kalytera Therapeutics is pioneering the development of cannabidiol (CBD) therapeutics. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera seeks to establish a leading position in the development of CBD medicines for a range of important unmet medical needs, with an initial focus on graft versus host disease and treatment of acute and chronic pain.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below: