On February 28th the market closed to a trading month that disappointed investors as one of the worst trading months in 2018. The Nasdaq and the Dow Jones Industrial Average both dropped – Nasdaq dropping 0.8%, the Dow dropping 1.5%. Canada’s index saw their worst drop in 3 weeks due to the plummet in oil prices. However, cannabis stocks outperformed Wall Street on the same day – of these, three cannabis stock companies showed perseverance through the worst trading day in months.
Cronos Group Inc. (MJN:CA) ended the day at $11.79 per share, at a gain of almost 22%.
Abcann Global Corporation (ABCN:CA) ended at a 17.24% increase and closed at $2.04 per share.
Cannabis Wheaton Income Corp. (CBW:CA) increased about 16.5% and closed Wednesday at $1.63 per share.
These following three stocks didn’t fare as well and closed at a significant decrease in valuation:
Maricann Group Inc. (MARI:CNX) went down from $2.49 per share to $1.99 per share, only a few cents more than the original IPO price per share, and has increased back to $2.07 as of March 1st (4:00PM).
The packaging company Kush Bottles Inc. (KSHB) ended Wednesday at a decline of 6.59%. Kush Bottles Inc. is nearing its trading position before the decline and is trading currently, on March 1st, at $4.47 per share. This day was the worst day for Kush Bottles Inc. since the stock hit its all-time high of $8.30 per share on January 16th and dropped a total of $1.63 in two days on the 18th.
The last stock to lose out on the 28th was CannaRoyalty Corp. (CRZ:CNX). The trading ended at a decline of 2.31% at $3.39 per share. This stock has recuperated since and is trading at $3.78 per share, or an 11.50% increase in price.