As a result, late in the trading day many North American weed stocks saw double-digit gains. Canada's Canopy Growth (NASDAQ: CGC) closed more than 22% higher, while compatriot Organigram Holdings (NASDAQ: OGI) rose by 17%. Numerous U.S.-based weedies did even better; Green Thumb Industries (OTC: GTBIF), to name one, advanced by 33%.
As of mid-afternoon trading on Wednesday, Scotts Miracle-Gro (NYSE: SMG) stock was doing the opposite of growing. On news of a payout for one of the agricultural and cannabis cultivation retailer's departed executives, investors were trading the shares down by over 4%. After market hours Tuesday, Scotts Miracle-Gro detailed in a regulatory filing the pay package it's doling out to former CFO Cory Miller.
GrowGeneration (GRWG) opens a new store in Virginia and signs two new leases in New Jersey and Missouri, progressing well on its strategy to grow its retail presence across North America.