This was a mixed week for cannabis stocks, with some ETFs in the green and others in the red.
Over the five trading days of the week:
- The ETFMG Alternative Harvest ETF (NYSE: MJ): lost 1.4%
- The AdvisorShares Pure Cannabis ETF (NYSE: YOLO): was up 0.8%
- The Cannabis ETF (NYSE: THCX): was down 2%
- The Amplify Seymour Cannabis ETF (NYSE: CNBS): gained 1.2%
- The SPDR S&P 500 ETF Trust (NYSE: SPY) was down 1.2%.
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) entered the Pennsylvania market via the acquisition of PurePenn LLC and Pioneer Leasing & Consulting LLC Keystone Relief Centers LLC (Solevo Wellness) for $46 million and $20 million, respectively. In addition, the company would provide up to approximately $60 million and $15 million in its shares, depending on the achievement of particular EBITDA milestones, both parties agreed on.
Tulieve also secured CA$100.4 million in financing through an underwritten offering