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Buds & Duds: Aurora Cannabis spikes on US listing news, Ascent Industries Corp also pops

Aurora Cannabis stock jumped after it announced this week it has plans to dually-list in both Canada and the US

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Cannabis shares popped on Thursday after a range of news that included acquisitions and dual listings

Cannabis stocks had a green day today as the frenzy for pot stocks continues.

Aurora Cannabis (TSE:ACB) announced this week it has plans to dually-list in both Canada and the US, and wants to list its shares on a major US stock exchange next month, according to media reports. 

Shares were up 12.70% at C$12.25. 

READ: Aurora Cannabis said planning listing on major US exchange, says media reports

Aurora's chief corporate officer Cam Battley told the Financial Post it is looking at an October listing, and that such a move would broaden the scope of aurora's would-be investors, "including US institutional investors, not all of whom are able to trade in OTC-listed securities."

The move to the US would allow Aurora to tap US investors after a string of acquisitions, such as the recent announcement it bought ICC Labs Inc, the Post report added.

Cannabis e-commerce company Namaste Technologies (CVE:N, OTCQB:NXTTF) saw its shares boost 10.0% today at C$3.30 after it was added to Horizons Medical Marijuana Life Sciences.

The Horizons Medical Marijuana Life Sciences exchange-traded fund seeks to replicate the performance of the North American Marijuana Index.

The North American Marijuana Index aims to provide exposure to the performance of a basket of North American public life-sciences companies with significant business activities in the marijuana sector.

Shares of Ascent Industries Corp popped on Thursday after it released news that its wholly owned subsidiary, Agrima Botanicals Corp, announced Thursday it has developed a proprietary methodology for producing a variety of discrete, water-soluble cannabinoids, both in powder and liquid form.

Shares were up 10.0% at C$0.77. 

 

 

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