A huge cannabis deal announced Monday helped spark a rally in the sector:
A C$1.1 billion cannabis deal announced Monday helped to spark a broad rally in the broader marijuana sector to start the second quarter, even if shares of Origin House fell Monday as news broke of its acquisition by Chicago-based Cresco Labs Inc.
In comparison, the S&P 500 index SPX, +1.16% advanced 1.1% Monday, after rising 13.1% in the first quarter, the best quarterly performance since the third quarter of 2009. Origin House’s stock has nearly tripled over the past 12 months, while Cresco shares have run up 89% over the period. DionyMed Brands Inc.’s stock HMDEF, -0.82% fell hiked up 3.5%, erasing earlier losses of as much as 7.8%. The company announced late Friday that its California delivery service Hometown Heart has terminated its relationship with customer-acquisition services company Eaze Technologies Inc. DionyMed said following a review of Eaze’s business practices, it couldn’t confirm that Eaze’s credit card payment-processing methodology met regulatory compliance requirements.
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