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Home 🌿 Marijuana Business News 🌿 Canopy Growth halted five times as soaring Canadian marijuana stocks go on wild ride 🌿

Canopy Growth halted five times as soaring Canadian marijuana stocks go on wild ride

Submitted by Marijuana News on Thu, 11/17/2016 - 08:17

Canadian marijuana stocks went on a wild ride on Wednesday as a number of the companies’ shares soared in the morning and were later halted after massive spikes in trading.

The country’s publicly-traded marijuana companies, including Canopy Growth Corp (CGC.TO), Aurora Cannabis Inc (ACB.V), Mettrum Health Corp (MT.V), Aphria Inc (APH.V), OrganiGram Holdings Inc (OGI.V), and Supreme Pharmaceuticals Inc (SL.CD) were all halted for brief periods.

Smith Falls, Ont.-based Canopy was halted five separate times on Wednesday. Its stock surged nearly 30 per cent, and ended down 15.24 per cent to close at $11.40 per share. More than 24 million shares of Canopy changed hands on Wednesday.

In its earnings report earlier this week, Canopy reported that revenue rose to $8.5 million, a 245 per cent increase over the same period last year.

The Investment Industry Regulatory Organization of Canada issued the halt and resumption notices, citing “single-stock circuit breaker”...

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