Cannabis is in focus this week as the famed weed holiday 4/20 lands on Tuesday.
Last week federal lawmakers in the U.S. House of Representatives and Senate proposed bipartisan legislation to federally legalize medical cannabis for combat veterans. The House's Veterans Medical Marijuana Safe Harbor Act would temporarily legalize medical cannabis possession for combat veterans.
Here are some of the biggest cannabis stocks performed this past week.
Tilray Inc | Decreased -4.6%
Tilray (TLRY) - Get Report shares rose 1.5% during Friday's session after Aphria shareholders voted to approve the two companies' plan to merge. Under the terms of the agreement, Aphria shareholders will receive 0.8381 Tilray shares for each of their shares. The C$5 billion (US$4 billion) merger will create the world's largest marijuana production and distribution company.
Canopy Growth Corp | Decreased -2.86%
Canopy Growth (CGC) - Get Report shares fell nearly 3% last week but closed Friday's session up 1.4%. During the week, Canopy Growth announced the launch of Vert, its first Quebec-exclusive brand, featuring two strains.
HEXO Corp. | Decreased -13.4%
HEXO (HEXO) - Get Report closed Friday's session down nearly 3%, adding to the losses throughout the week after the cannabis company announced it has filed a new preliminary short form base shelf prospectus in Canada. The prospectus will allow HEXO to make offerings of up to C$1.2 billion of common shares, warrants, subscription receipts and units.
Trulieve Cannabis Corp. | Decreased -3.4%
Trulieve Cannabis (TCNNF) - Get Report shares closed Friday down 2.13%, the largest cannabis company in Florida, announced that it acquired Solevo Wellness West Virginia and its three state dispensary permits for $650,000. "This acquisition enables Trulieve to broaden and solidify our position in the newly created West Virginia market."
Green Thumb Industries Inc. | Increased +0.4%
Green Thumb (GTBIF) closed Friday's session down 3.8% after the company announced the launch of Cann, a portfolio of micro-dosed cannabis-infused social tonics, in Illinois. “The cannabis beverage category is expanding as adults seek alcohol alternatives, and Cann delivers a superior experience,” said Green Thumb CEO Ben Kovler
All cannabis stock price performances are referenced and pulled from Barchart.