Marijuana Stocks: Aphria, Aurora Cannabis, and Canopy Growth Skyrocket

marijuana stocks

Marijuana stocks are booming this morning on the New York Stock Exchange (NYSE), NASDAQ, and the Toronto Stock Exchange (TSX). For most of the week, cannabis stocks have been plummeting, but Cronos Group's (TSX:CRON) (NASDAQ:CRON) latest announcement has pushed up investor confidence. The cannabis stock received a $1.8 billion investment from Marlboro's owner, Altria Group Inc. (NYSE:MO). 

This morning, we'll take a closer look at three marijuana stocks and their latest movements: Aphria (TSX:APHA) (NYSE:APHA), Aurora Cannabis (TSX:ACB) (NYSE:ACB), and Canopy Growth (TSX:WEED) (NYSE:CGC). 

Marijuana Stocks: Aphria Inc. 

Aphria is on the list of top marijuana stocks. Currently, it is seeing the most stock gains this morning.

However, it was announced this morning that a class action lawsuit has been filed against the cannabis company by Glancy Prongay & Murray LLP. The law firm works with global investors, and it has been filed on behalf of investors who bought APHA shares between July 17th, 2018, and December 4th, 2018.

The class-action lawsuit states:

"The complaint filed in this class action alleges that the Company made false and/or misleading statements and/or failed to disclose that: (1) the Latin American assets acquired by the Company lacked adequate licenses to operate and were overvalued; (2) the acquisition of the Latin American assets would enrich the Company’s CEO and other insiders at the expense of shareholders; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages."

Yikes. According to Yahoo Finance, the marijuana stock is currently trading at $5.80 a share, up +$0.26 (+4.69%).

Marijuana Stocks: Aurora Cannabis Inc. 

Aurora Cannabis is among the top marijuana stocks of 2018. The recreational and medical cannabis company holds strong partnerships across Canada and just recently began trading on the New York Stock Exchange. This month, the cannabis stock has taken a nosedive, but today's boost might just revive its shares.

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Yesterday, Aurora announced that it has been selected to supply medical cannabis to all of Luxembourg. This year, the cannabis company has set its sights on the EU and has made major movements in European countries.

According to Yahoo Finance, the marijuana stock is currently trading at $5.72 a share, up +$0.44 (+8.33%).

Marijuana Stocks: Canopy Growth Corporation

Canopy Growth listed on the New York Stock Exchange in January of 2018 and remains one of the top marijuana stocks in 2018. While its share prices have corrected since its record-highs back in October 2018, the company has exponentially grown this year. 

This morning, Canopy announced that it has finalized its acquisition of Storz & Bickel subsidiaries. This may be the cause of its spike in share price this morning. It also may just be investors buying up marijuana stocks since the Cronos announcement. 

According to Yahoo Finance, CGC is currently trading at $31.78 a share, up +$1.44 (+4.74%).

Featured Image: Depositphotos/© SergeyNivens

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