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by Stockwatch Business Reporter
The Canadian Securities Exchange Composite Index lost 0.87 point to 429.12 Wednesday. On Monday, without any kind of news release or announcement, the Toronto Stock Exchange and TSX Venture Exchange launched the S&P/TSX Cannabis Index. Included in the index are 10 Canadian licensed producers, four extractors and a United States-based CBD producer (15 companies in all). The index has most of the main Canadian cannabis companies; Canopy Growth Corp. (WEED: $31.71), Aurora Cannabis Inc. (ACB: $2.68), Cronos Group Inc. (CRON: $10.95) and Aphria Inc. (APHA: $7.56) make up a combined 68 per cent of the index's holdings. Each of those stocks account for between 14 per cent and 22 per cent of the index, while the remaining 11 stocks are each under 5 per cent. The U.S. CBD producer is Charlotte's Web Holdings Inc. (CWEB: $11.40).
One of the main constituents of the index, Aphria, gained 61 cents to $7.56 on 11.67 million shares today. The company's shares rose after Aphria received a European Union good manufacturing practices (EU GMP) certificate for its Aphria One operation in Leamington, Ont. The EU GMP designation, considered the strictest in the world, is required for companies to be able to ship cannabis products to Europe. Specifically, Aphria says the designation will allow it to supply bulk marijuana for medicinal use to other EU-GMP-certified facilities, where the marijuana will be (1) packaged and sold as it is or (2) processed into extract products for sale in the EU.
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