Cannabis stocks falls but the Aleafia cashes the style by entering the German medical cannabis market

Aleafia Health Incorporation shares continued to jump Tuesday, after it announced Monday it is entering the German medical cannabis market via its joint-venture with German pharmaceutical wholesaler Acnos Pharma GmbH.

Shares were up 5.6% at C$1.71 in Canadian trading, up 4.9% at US$1.29 in New York.
“We are charmed to before long observe the fare of our cannabis wellbeing and wellbeing items to the world’s biggest therapeutic cannabis showcase in Germany,” said Aleafia Health Chairman Julian Fantino in an announcement.
“By inclining toward our very own center skills of creating high-edge esteem included items and utilizing the neighborhood store network aptitude of our extraordinary accomplices, we have essentially reinforced our universal impression and done as such quicker and at a small amount of the expense of a securing.”
Also gaining Tuesday was True Leaf Medicine International Ltd, with shares up 1.1% at C$0.47 in Toronto.

The Vernon, BC-based cannabis and hemp wellness brand for pets announced it has added an executive from the world’s largest pet food company to lead its pet division.
Kevin Cole, a former vice president of marketing at Mars Petcare, joins the cannabis for pets brand as president of True Leaf Pet.
Grow Generation Corporation reported its 1Q financial results Tuesday, sending shares soaring, up 19.1% at US$3.24.

The company, which has operations in eight states, reported a net profit of US$229,421 in the quarter, compared to a loss of US$953,430 in the year-ago period. Revenue was up at US$13.1 million from $4.4 million in the same period a year earlier.

The company, which operates the world’s largest cannabis dispensary in Las Vegas, reported on Tuesday that it served 1,962 customers per day in April at an average ticket of US$89.62. This is slightly down from the 1,987 customers per day it reported in March. The company also released its Q4 financial results (ended December 31, 2018) last week, posting a net loss of US$4.0 million as compared to a net profit of $259,493 in the same period in 2017.

Cronos Group Incorporation shares continued to drop on Tuesday, down 5.5% at US$15.44 in New York and down 5.4% at C$20.66 in Toronto.