Cannabis Stocks Are Struggling While the Rest of the Market Climbs
Cannabis stocks were struggling mostly to keep up with the rest of the market's gains Monday, Dec. 3, but a couple of pot stocks were trading in the green.
Canopy Growth Corp. (CGC) - Get Canopy Growth Corporation Report dropped 0.66%.
Aurora Cannabis Inc. (ACB) - Get Aurora Cannabis Inc. Report fell 0.52%.
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New Age Beverages Corp. (NBEV) - Get NewAge Inc Report was climbing more than 9% Monday after the soft drinks maker said it was acquiring Morinda Holdings, a cannabis-infused drink seller, for $85 million.
"This acquisition has potential to expand their strategic push into cannabis infused beverages globally, and further strengthens their award-winning healthy beverage portfolio," a spokeswoman for New Age Beverages said in an email to TheStreet.
Meanwhile, shares of India Globalization Capital Inc. (IGCC) were jumping 13.6% despite a lack of new news. India Globalization is developing cannabis therapies to treat Alzheimer's disease, pain, nausea and eating disorders.
