Cannabis sector

Last week was broadly negative for the cannabis sector. The Horizons Marijuana Life Sciences ETF (HMMJ) fell almost 16.8%, while the Emerging Marijuana Growers Index ETF (HMJR) declined by 11.7% during the same period. Let’s look at the worst performers in the cannabis sector last week.

Cannabis Stock Returns as on October 26 2018-10-28

Cannabis stocks

As the above chart shows, Aurora Cannabis (ACB) emerged as the biggest loser last week with a 29.4% decline despite debuting on the on the New York Stock Exchange. Tilray (TLRY) emerged as the second biggest loser with its stock taking a ~25.6% hit in the last week alone. Cronos Group (CRON) was next with a 19.9% decline, while Canopy Growth (CGC) (WEED) fell ~17.4% last week.

The cannabis stocks listed on the Canadian stock exchanges were also in the deep red. For example, Aphria (APHQF) declined by 15.6% week-over-week, while Organigram (OGRMF) was down by about 15.5% during the same period. CannTrust (CNTTF) lost about 18.7%, and HEXO (HEXO) declined almost 13.6% during the week. Supreme Cannabis (SPRWF) followed with a 13.3% weekly decline, while Emerald Health (EMHTF) fell 2.3% last week.

During the same period, the TSE 300 Index declined by 3.8%, and the S&P 500 Index was down by 3.9%

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