It was a rough day on the markets for these three Canadian cannabis stocks

Members of the Zenabis team were in Toronto to ring the bell to open the Toronto Stock Exchange on Monday, Jan. 28. Its stock price fell 18.5 per cent on Friday, Aug. 14, 2020, after disappointing earnings results. (Photo submitted)

It was a tough Friday for several of Canada’s publicly traded cannabis brands with Vancouver-based Zenabis Global falling 18.25 per cent after reporting a net loss of $15.7 million in its second-quarter.

Alberta-based Sundial Growers fared even worse as investors drove down the price of its stock by 35 per cent on Friday, pushing it down $0.25 US to 0.45 US. Sundial released results late Thursday showing$20.2 million in net revenue in the quarter, while posting a $31.5-million net loss.

“While we are pleased to be one of a small group of Canadian LP’s able to post quarterly revenues greater than $20 million, we remain focused on the intense competitive landscape and the need to gain greater scale to reach sustainable profitability,” Sundial CEO Zach George said in a news release.

Meanwhile, Zenabis reported it $27.4 million in revenue in last quarter.

Hexo Corp also fell Friday, slipping $0.06 to $1.01, a decline of 5.61 percent.

— Paul Bucci, West Coast Evergreen