logo-loader
viewBevcanna Enterprises Inc.

Buds & Duds: Cannabis stocks mixed on Tuesday but BevCanna rises on executive appointment

Also on the move were The Green Organic Dutchman, Empower Clinics and CannTrust

cannabis
BevCanna Enterprises added a new finance chief, sending its shares climbing on Tuesday

Cannabis stocks were largely flat on Tuesday across major North American markets.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, inched 0.3% higher to hit 211.4 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF rose 1.4% to C$16.30, while the OTCQX Cannabis Index lost 0.2% to 706 points.

Buds

Infused beverage company BevCanna Enterprises Inc (CSE:BEV) gained ground following a management reshuffle that saw the company welcome a new finance chief.

Michael Darby joined the team effective July 29, taking the place of John Campbell who will remain in his role as chief strategy officer.

Shares flew 11.1% higher to reach C$0.35 on Tuesday morning.

Also leading the pack was cannabis producer The Green Organic Dutchman Holdings (TSE:TGOD), which jumped 6.5% to C$2.97 on no new news.

Empower Clinics Inc (CSE:CBDT) also flew 22.2% higher to C$0.11 in spite of a lack of new news.

Duds

There were a few laggards on Tuesday morning but little cause for panic among cannabis investors.

The CannTrust Holdings Inc (TSE:TRST) saga continued with news that two directors of the disgraced company sold C$6 million worth of stock after its chairman was told about unlicensed growing operations. CannTrust shares fell 1.4% at C$2.82.

Elsewhere, consumer packaged goods company SLANG Worldwide Inc (CSE:SLNG) dropped 3.8% at C$1.28 in morning trade, and cultivator TerrAscend Corp (CSE:TER) was down 1.7% to C$6.34 by midday.

Quick facts: Bevcanna Enterprises Inc.

Price: 0.39 CAD

CSE:BEV
Market: CSE
Market Cap: $17.87 m
Follow

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Bevcanna Enterprises Inc. named herein, including the promotion by the Company of Bevcanna Enterprises Inc. in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

BevCanna Enterprises taking advantage of CBD beverages market

Proactive Research analyst Ed Stacey says BevCanna Enterprises Inc (CNSX:BEV) is offering  investors an early-stage opportunity in the emerging market for legal cannabis products - primarily the infused beverages category. Stacey says it's a space that's anticipated to soon benefit from...

on 7/10/19

2 min read