Buds & Duds: Weekend Unlimited to launch concept store California; Aleafia slumps after TSX uplisting

Cannabis stocks perked up Thursday in tandem with broader North American markets.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada was up 0.14% to US$299.82 on Thursday midday. 

Buds

Shares of Weekend Unlimited (CSE:POT) (OTCQB:WKULF) jumped after the cannabis lifestyle brand company announced it plans to open its first concept store in Long Beach, California in April. 

Shares were up 7.6% at C$0.10 in New York and up 4.0% at C$0.13 in Toronto.

READ: Weekend Unlimited to open first concept store in California next month

The store, which will open on April 20, will feature 2,500 square feet of space where Weekend’s cannabidiol (CBD) and wellness products will be sold. On top of this, it will also include 2,500 square feet for a Weekend LIVE lounge where community outreach and education seminars will take place.

Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) saw shares rise after the company announced Thursday that it had completed its first shipment of medical cannabis to Canadian pharmacy mammoth Shoppers Drug Mart, through its wholly-owned subsidiary and cultivation arm United Greeneries Ltd. 

Shares were up 3% at C$1.04 in Toronto and up 1.1% at US$0.78 in New York. 

Duds

Aleafia Health Inc (TSE:ALEF) (OTCMKTS: ALEAF) stumbled on Thursday, after the company’s uplist to the Toronto Stock Exchange on Tuesday.

Last week, the company closed its acquisition of Emblem Health. The merger creates Canada’s largest medical cannabis clinic with more than 60,000 patients with access to cannabis oils, capsules and sprays.

Shares were down 3.1% at C$2.19 in Toronto, and down 3% at US$1.65 in New York. 

Auxly Cannabis Group Inc (CVE:XLY) (OTCMKTS:CBWTF) stock continued to slide Thursday, on the back of declines on Wednesday.

The cannabis streaming company, which has operations across Canada and Uruguay, saw its shares drop 4.1% at C$0.94 in Toronto and down 5.8% at US$0.70 in New York on the back of little to no news. 

Contact Katie Lewis at [email protected]

Story by ProactiveInvestors