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Therapix a Cinderella Story Amid Pot Stocks Getting Burned

Share prices are red across the board from China to North America, here is what’s happening to pot stocks.

Photo by Aline de Nadai on Unsplash

Stocks are down across the board globally today. Europe, China and North America are all in the red. Blame the European Commission looking to reject the Italian government’s budget, low conviction in Beijing’s ability to increase confidence, and deteriorating relations following Jamal Khashoggi’s death. Forecasts from industrial companies Caterpillar and 3M compounded global concerns over Saudi Arabia’s diplomatic situation, Italy’s finances and other impending trade-wars.

POT STOCKS BATTERED

In Canada, the big story is the impact on pot stocks. All of the major pot stocks were down, as listed in our pot stock watchlist below. Is it a buying opportunity? Investors who have been paying high multiples for cannabis companies with low revenues but promising futures may be getting a break.

 

STOCK Last Trade Price Change Percent Change Volume
AURORA CANNABIS $9.75  $    (1.67)      (14.62) 19,510,422
HEXO CORP $5.00  $    (0.82)      (14.09) 5,501,794
APHRIA INC $14.51  $    (1.26)         (7.99) 5,440,304
CANOPY GROWTH CO $49.66  $    (4.80)         (8.81) 2,760,419
NAMASTE TECHNLGY $1.66  $    (0.25)      (13.09) 2,656,659
SUPREME CAN CO $1.34  $    (0.18)      (11.59) 2,049,739
NEWSTRIKE BRANDS $0.47  $    (0.07)      (12.96) 1,942,623
ALEAFIA HEALTH $1.94  $    (0.46)      (19.17) 1,726,589
CANNTRUST HOLDNG $9.78  $    (1.02)         (9.44) 1,591,335
ORGANIGRAM HOLDI $5.17  $    (0.82)      (13.69) 1,449,732
TILRAY INC $111.10  $ (11.50)         (9.38) 1,386,255
THE GRN ORGNC $3.73  $    (0.39)         (9.47) 1,221,344
CRONOS GROUP INC $10.37  $    (0.64)         (5.81) 1,002,231
HORZN MR IDX ETF $18.40  $    (1.87)         (9.23) 572,607

A pot-related stock on the rise in the sea of red? A little known bio-pharma company called Therapix Biosciences (NASDAQ: TRPX). The stock is up nearly 28% to $5.68 on news that Canada’s FSD Pharma (CSE: HUGE) will buy the Isreali company.

Their combined businesses will focus on research and development of cannabinoid treatments. “The intended acquisition of Therapix Biosciences at this time is a pivotal step in the evolution of our company by entering the high-value medical cannabis market,” FSD Director Raza Bokhari said.

Therapix develops vaccines and immunotherapeutics that treat inflammatory and autoimmune diseases. It also produces a Pneumococcal Vaccine and Alzheimer’s Disease Immunotherapy.

Written by Rob McLean

Rob loves staying on top of developments in the cannabis sector, and always has his finger on the pulse of real estate markets.

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