Cannabis Stocks Watchlist: Marijuana Stocks Surge

Cannabis stocks were on watch as the SAFE Banking Act passed the U.S. House of Representatives last week.
Author:
Publish date:

Cannabis stocks were on watch last week after the SAFE Banking Act was passed by the House of Representatives to head to the Senate for approval. 

The ETFMG Alternative Harvest ETF  (MJ) - Get Report was volatile last week on the news, but the benchmark cannabis ETF closed the week up more than 30%. 

Which Cannabis Stocks to Buy? Stick With U.S. MSOs

Here's how some of the top pot stocks performed last week. 

Canopy Growth Corp. | Increased +3.02%

Canopy Growth  (CGC) - Get Report shares had a down week last week signed a U.S. distribution agreement with Southern Glazer's Wine & Spirits for its CBD beverage portfolio. "Through this groundbreaking partnership, we will leverage Southern Glazer's established distribution network to bring our CBD beverage portfolio to retailers and consumers across the U.S. market," said Julious Grant, Canopy Growth's Chief Commercial Officer.

Aphria Inc. | Increased +10.73%

Aphria  (APHA) - Get Report CEO Irwin Simon appeared on CNBC last week to say that he expects the Tilray  (TLRY) - Get Report merger to go through and that when the legalization of cannabis in the U.S. occurs, the Canadian company will be able to operate in the country. The combination of Aphria and Tilray would make it the world's largest cannabis company. 

Read MoreWill U.S. Legalize Cannabis? Industry Insiders Give Their Take

Sundial Growers Inc. | Increased +4.51%

Sundial Growers Inc.  (SNDL) - Get Report announced last week that it increased the financial commitment to its SunStream Bancorp joint venture with SAF Group to $188 million from $100 million. SunStream is a joint venture between Sundial and the SAF Group that will leverage a strategic financial and operational partnership to target asymmetrically enhanced risk-return opportunities in the cannabis industry to provide exposure to a portfolio of attractive debt, equity and hybrid investments.

HEXO Corp. | Increased +13.53%

Hexo Corp  (HEXO) - Get Report recently announced that it has filed a new preliminary short form base shelf prospectus with sucirities regulators in each of the provinces and territories of Canada.

“We made the decision to file this new base shelf prospectus and registration statement to provide maximum flexibility as we continue to pursue strategic initiatives in both the United States and Canada,” said HEXO CEO and co-founder Sebastien St-Louis.

Read More: What Will Cannabis Stocks Do if the U.S. Legalizes Pot? See Canada

Organigram Holdings | Increased +11.41%

Organigram  (OGI) - Get Report announced the launch of two new Edison dried flower strains last week, including its potent GMO Cookies and citrus diesel MAC-1.

Both strains have a distinct profile, flavor and aroma as a result of being grown in one of Organigram's strain-specific micro-climates