Elixinol (ASX:EXL) share price tumbles on capital raising update

The Elixinol Global Ltd (ASX: EXL) share price tumbled after management issued an update to its share purchase plan (SPP) today.

The EXL share price lost 7.6% to 24 cents in after lunch trade when the S&P/ASX 200 Index (Index:^AXJO) gained 0.5%.

Other ASX medicinal cannabis stocks are faring better. The Creso Pharma Ltd (ASX: CPH) share price gained 10.3% to 11 cents and the Auscann Group Holdings Ltd (ASX: AC8) share price stayed flat at 17 cents at the time of writing.

Elixinol share price well above offer price

But Elixinol shareholders may not be too perturbed as the stock is still up 33% since the company emerged from a trading halt.

The trading halt was called as management undertook an $8.2 million placement and launched a…