Cannabis Sector Stayed in the Green Last Week

By Adam Jones, Market Realist

The week ending September 21 was broadly positive for the cannabis sector. The Horizons Marijuana Life Sciences ETF (HMMJ) rose 11.6% from its closing on September 14 to its closing on September 21. The Emerging Marijuana Growers Index ETF (HMJR) rose 1.7%, while the ETFMG Alternative Harvest ETF (MJ) rose 10.4% during the same period.

Cannabis stocks
Last week, Aurora Cannabis (ACB) (ACBFF) was the top gainer with a weekly gain of 38.6%. The stock likely rose as a result of Coca-Cola’s affirmation that it is in talks with Aurora Cannabis to produce cannabis-infused drinks.

Cronos Group (CRON) was next with a weekly gain of 20.5%, followed by CannTrust (CNTTF), which rose about 14.6%. Tilray (TLRY), which had a wild ride last week, ended 12.8% higher, while HEXO (HEXO) was right behind with a gain of 9.6% over the week.

Supreme Cannabis (SPRWF) rose 6.4%, and Canopy Growth (CGC) (WEED) was up almost 5.5% during the week ending September 21. Organigram (OGRMF) also rose 1.4%, and Aphria (APHQF) rose about 0.8%. Last week, Aphria announced supply agreements with all ten provinces and one territory in Canada. Emerald Health (EMHTF) was the only one to end in the negative territory. Its stock lost almost 1.4% week-over-week.

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