Marijuana stocks are growing again Monday -- with a little help from 22nd Century Group (NYSEMKT: XXII) .
In a pair of press releases, 22nd Century first announced that it is selling 10 million shares of stock to an institutional investor at $4 a share, in order to raise $40 million "to support the Company's strategic objectives across all of its plant franchises." Then 22nd Century announced that one of these "objectives" will be to partner with Aurora Cannabis (NASDAQ: ACB) to "actively explore commercial development opportunities" on tobacco and cannabis products.
22nd Century stock jumped 13.2% today, and Aurora Cannabis stock closed 8.3% higher -- but cannabis stocks HEXO (NYSE: HEXO) and Canopy Growth (NASDAQ: CGC) climbed higher as well, ending up 3.7% and 5.8%, respectively.
For further details see:
Why 22nd Century Group, HEXO, and Canopy Growth Stocks All Popped Today