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Buds & Duds: NextLeaf Solutions shares soar after trading debut

Proactive Investors Friday, 22 March 2019
It was a topsy-turvy day for cannabis stocks in North American on Friday, with many dipping alongside broader North American markets. The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada was down 2% at US$298.99 on Friday.  Buds Shares of NextLeaf Solutions Ltd (CSE:OILS) popped Friday after the company made its debut on the Canadian Securities Exchange under the ticker symbol OILS. NextLeaf has a number of issued and pending patents for processing purified cannabinoid distillate: a tasteless, odourless cannabis concentrate. Shares of the cannabis extraction and processing technology company were up 6.4% at C$0.43 READ: NextLeaf Solutions debuts on Canadian Securities Exchange Next Green Wave Holdings Inc (CSE:NGW) (OTCMKTS:NXGWF) also saw its shares jump on Friday, on the back of news that it had started the optimization phase of its research and development program, designed to kick off rapid production of the company’s cannabis cultivators for the California market.  “This program enables Next Green Wave to improve its library of award-winning premium genetics through a next-generation tissue culture platform, Botticelli,” Mike Jennings, COO at Next Green Wave said in a statement. Shares were up 6.1% at C$0.70 in Toronto and up 6.6% at US$0.52 in New York. READ: Next Green Wave begins the next phase of cultivation research and development program Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) shares were also on the move on Friday, up 7.4% at C$0.73 in Toronto and up 4.6% at US$0.54.  Earlier this week, the company announced it has appointed Baker Tilly WM LLP as its auditor, replacing PricewaterhouseCoopers LLP. Duds Aurora Cannabis Inc (NYSE:ACB) (TSE:ACB) shares sank on Friday, likely due to profit taking, as the stock has gained more than 85% since the beginning of 2019.  The share price dropped 6.2% to US$9.00 and climbed 5.9% to C$12.03 in Toronto. Other laggards on Friday included VIVO Cannabis Inc (CVE:VIVO) (OTCMKTS:VVCIF) despite announcing news on Thursday that its wholly-owned subsidiary, ABcann Medicinals Inc, had received approval from Health Canada for cultivation at its expansion at the company's Vanluven Road facility in Napanee, Ontario.  Shares were down 6.6% at US$0.78 in New York and down 7.1% at C$1.04 in Toronto.  Contact Katie Lewis at katie@proactiveinvestors.com Follow her on Twitter @kelewis
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