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Cannabis sector ETFs
Last week, which ended on May 25, cannabis sector ETFs slipped into negative territory sequentially, with the Horizons Marijuana Life Sciences ETF (HMMJ) closing ~1% lower than the closing on May 18. The ETFMG Alternative Harvest ETF (MJ) fell ~1.7%, and the Horizons Emerging Marijuana Growers Index ETF (HMJR) fell ~1.7%. The Evolve Marijuana ETF (SEED) fell 1.4%.
Let’s look now at the performances of some of the major cannabis stocks that are part of these ETFs.
Last week, Emerald Health Therapeutics (EMHTF) emerged as the lowest performer with its stock falling 10.4% to 4.20 Canadian dollars. It was followed by Cronos Group (CRON), which fell 3.1% to 7.80 Canadian dollars, and Aphria (APHQF), which fell 2.9% to 11.90 Canadian dollars. Canopy Growth (WEED), one of the major cannabis players, ended up in negative territory, declining 2.9% to 35 Canadian dollars, while CannTrust Holdings (CNTTF) was next with its stock falling 2% to 8.60 Canadian dollars. MedReleaf fell slightly by 37 basis points to 24.50 Canadian dollars.
Among the stocks that gained last week were Supreme Cannabis, which rose 4.1% to 1.80 Canadian dollars, followed by OrganiGram Holdings, which gained 1.7% to 4.90 Canadian dollars. Hydropothecary was also one of the gainers, rising 1.4% to 5.20 Canadian dollars, followed by Aurora Cannabis (ACB) (ACBFF), which rose 1.3% to 8 Canadian dollars.
YTD (year-to-date), seven of the ten companies in the above chart are still in negative territory. Aphria (APHQF) emerged as the lowest performer, falling 41%, followed by Supreme Cannabis with a 34% decline and Aurora Cannabis with a 32% decline.
Hydropothecary emerged as the top gainer, rising 15.7%. It was followed by OrganiGram, which rose 8.4%, and Canopy Growth, which rose 8.1%.