Cannabis stocks had a mediocre trading day Yesterday. While Golden Leaf Holdings shot up 15%, cannabis companies such as Cannabis Wheaton and Lineage Grow Company found themselves in the red zone.
Why, though? Did they announce some cannabis news that didn’t sit well with the cannabis market? Let’s see if we can find anything out.
Cannabis News | Cannabis Stocks Down, Down, Down
- Cannabis Wheaton (CVE:CBW)
At 3:59 p.m. EDT, Cannabis Wheaton was trading at $1.59. This puts the stock down 4.22%. Right now, Cannabis Wheaton is considered to be a small-cap company, holding a market capitalization of 692.95 million.
So, is there any Cannabis Wheaton news circulating around today? Yes, actually, there’s two pieces; the first being that Cannabis Wheaton went from trading up yesterday to being down nearly 5% today. The second piece of cannabis news to come from this company involves its Dosecann acquisition.
On Thursday, Cannabis Wheaton, based in Vancouver, British Columbia, disclosed that it had closed its acquisition of Dosecann. Interestingly, this is good cannabis news, so it’s unclear what caused the stock to end the day down. Perhaps it was a one off, and it will be back in the green tomorrow, just as it was on Wednesday.
- Lineage Grow Company (CNSX:BUDD)
According to Google Finance, at 4:00 p.m. EDT, Lineage Grow Company was trading at $0.20. This puts the cannabis stock down 4.76%.
Unlike Cannabis Wheaton, there is no cannabis news from this company today that would explain the stock drop. In fact, Lineage Grow Company hasn’t made an announcement since last week. On May 8, Lineage Grow announced that it entered into an LOI with Quinsam Capital. This was big news, but not enough to keep the stock in the green this week.
>>Global Hemp Group and Golden Leaf Holdings See Green
The Cannabis News Takeaway
Were you surprised to see these cannabis stocks down today?
Featured Image: Depositphotos/© Yarygin
