Auscann Group Holdings Ltd shares storm higher

One of the best performers on the market today has been the Auscann Group Holdings Ltd (ASX: AC8) share price.

In afternoon trade the medicinal cannabis company’s shares are up over 8% to 52 cents. This brings its three-month return to over 50%.

Why are its shares higher?

With no news out of the company today, this sizeable increase is a bit of a mystery.

But it isn’t the only pot stock that’s posting gains today.

The shares of industry peers Creso Pharma Ltd (ASX: CPH) and Hydroponics Company Ltd (ASX: THC) are also notably higher this afternoon, possibly hinting at a growing interest in the fledgling industry from investors.

Unfortunately the same cannot be said for Stemcell United Ltd (ASX: SCU). Its shares are down 5% in afternoon trade, stretching their three-month decline to over 63%.

You can read the latest on the pot stock industry here.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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