Buds & Duds: Cannabis stocks drop but Weekend Unlimited shares jump on CBD hemp seed news
Cannabis stocks continued to drop Wednesday with broad losses across North American markets.
The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was down 1.1% to 244.5 points on Wednesday. The Horizons Marijuana Life Sciences Index ETF was down 1.4% to C$18.87. The OTCQX Cannabis Index was down 0.2% at 759.9 points.
Buds
Weekend Unlimited Inc (CSE:POT)(OTCQB:WKULF) shares were on the up-and-up Wednesday after it announced it has successfully produced more than 50,000 high-CBD hemp seeds at its 600-acre Northern Lights Organics farm in British Columbia.
Shares of Weekend Unlimited jumped 20% at C$0.06 in Canadian trading, up 6.5% at US$0.04 in New York.
The Canadian recreational cannabis company says it now can produce and supply high-CBD hemp seeds on a much-larger scale following the success of the test plot.
"Translating the results of this test plot in the nursery greenhouse to the larger greenhouse, which has 40 times the capacity, equates to approximately 2,000,000 seeds which is enough to plant over 600 acres," said President Arthur Halleran.
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