What happened

Shares of Tilray (NASDAQ: TLRY) are tanking today, down by 10.3% as of 10:40 a.m. EDT. The big drop reflects investors' disappointment with the Canadian cannabis producer's second-quarter results , which were announced on Tuesday after the market closed.

Aurora Cannabis (TSX:ACB)(NYSE:ACB) stock is on the verge of a breakout. It has burnt significant investor wealth in the last 10 months. Aurora investors have lost over 37% since October 2018. Several cannabis stocks were overvalued at the end of last year, just before Canada regularized marijuana for recreational purposes.

After that euphoria died down, cannabis stocks fell significantly. Shares of peer companies such as Canopy Growth, Tilray, and Aphria have lost 41%, 74%, and 52%, respectively, since the start of October 2018. So, will Aurora shares move higher in the coming months?

Cannabis earnings shook up the Toronto Stock Exchange (TSX) on Wednesday with three cannabis stocks announcing earnings for the quarter ended June 2019. Neptune Wellness (TSX:NEPT)(NASDAQ:NEPT)and The Green Organic Dutchman (TSX:TGOD) released Q2 2019 earnings before market open.

An interesting investment option you should consider in the cannabis space is The Green Organic Dutchman (TSX:TGOD) or TGOD.

The company is the only cannabis producer to be certified organic — the key factor in propelling the stock. You should take advantage of the weed stock’s incredibly low price.

Latest developments

TGOD has jumped on the bandwagon of Canadian cannabis companies listing on U.S. exchanges.

Last week, the company applied to list on the NASDAQ — a move intended to attract the big institutional funders and broaden TGOD’s investor base.

Everyone talks about how much the cannabis industry is going to grow over the next few years. But there are quite a few cannabis stocks that are delivering impressive sales growth right now.

I looked at the trailing-12-month revenue growth for the stocks of all cannabis-related companies with a market cap of at least $200 million. Here are the three stocks with the fastest-growing sales -- and whether they're smart picks to buy right now.

Pot investing ‘not just about hype anymore’: Supreme CEO

Sharp moves by several pot stocks in the final minutes of trading last week may be the result of trades by the largest cannabis exchange-traded fund.

The US$1 billion ETFMG Alternative Harvest ETF recently added about 5.5 million shares of CannTrust Holdings Inc., according to holdings data compiled by Bloomberg. The medical cannabis producer jumped about 40 per cent in the last hour of trading on Friday after spending most of the day in the red. Conversely, the fund, known as MJ, has significantly reduced its positions in Auxly Cannabis Group Inc., Vivo Cannabis Inc., Supreme Cannabis Co. and Canopy Rivers Inc., which all fell by at least 13 per cent.

Tricia Vanderslice, chief marketing officer for MJ issuer ETF Managers Group, declined to comment.

Tilray’s stock fell after the Canadian cannabis company reported a wider-than-expected loss for the second quarter after the markets closed Tuesday.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

• Adjusted earnings per share: A loss of 32 cents vs. a loss of 25 cents expected
• Revenue: $45.9 million vs. $41.1 million expected

Shares of the Canadian pot company slid by more than 7% in after-hours trading.

Since the widespread legalization of cannabis, 2019 has been a promising year for the budding weed industry. Dubbed as “Cannabusinesses,” some producers of legal marijuana have performed surprisingly well. But you must understand that there are some bad apples in the bunch. For every Canopy Growth, there are several more companies that could lose you a lot of money.

Amid the recent downtrend in the market, a number of cannabis stocks are potentially selling at a discount. In light of the current situation, it has become clear that the weed industry is gearing up for the next wave of volatility. This is likely to affect both the major and minor players of the industry.

This fall, Coast Mountain College will expand its curriculum to include cannabis classes for its students, with the new Cannabis Cultivation Series.

The series will be made up of five courses covering cannabis regulation, processing for the home grower, harvesting and curing, indoor growing and outdoor growing.