Cannabis Stocks Get A Boost In Sympathy With Cronos Group (TLRY)(ACB)(CGC)(APHA)(PYX)(NBEV)
Altria agreed to pay C$2.4 billion ($1.8 billion) to Canada-based Cronos Group Inc (NASDAQ: CRON) for a 45-percent equity stake with a warrant to buy incremental shares over the coming four years which will boost its stake to 55 percent.
Biedex.coms of Cronos were seen trading higher by more than 35 percent early Friday morning.
Here is a summary of how other cannabis stocks were trading in reaction to the announcement:
- Aphria Inc (NYSE: APHA): up 9.93 percent.
- Aurora Cannabis Inc (NYSE: ACB): up 9.4 percent
- Canopy Growth Corp (NYSE: CGC): up 6.1 percent.
- Pyxus International Inc (NYSE: PYX): up 5.7 percent.
- Tilray Inc (NASDAQ: TLRY): up 5.3 percent.
- New Age Beverages Corp (NASDAQ: NBEV): up 4.8 percent.
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