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Last week, the cannabis sector managed to reverse some of the losses that it has experienced since recreational cannabis became legal in Canada. The Horizons Marijuana Life Sciences ETF (HMMJ) gained nearly 42 basis points last week, while the Emerging Marijuana Growers Index ETF (HMJR) gained nearly 2.6% last week. Let’s look at how some of the cannabis stocks performed last week.
Last week, most of the cannabis stocks in the above chart ended in the positive territory except for Canopy Growth (CGC)(WEED), CannTrust (CNTTF), and Tilray (TLRY). These three stocks declined week-over-week by 4%, 8.2%, and 8%, respectively.
The top three gainers last week were Emerald Health (EMHTF), which gained nearly 10.5%, HEXO (HEXO), which gained 7.8%, and Cronos Group (CRON), which gained almost 3.6% last week. Other stocks that also experienced positive movement last week include Organigram (OGRMF), which gained about 2.3%, and Aphria (APHQF), which gained almost 1.9% last week. Aurora Cannabis (ACB) (ACBFF) was nearly flat with just about a 22-basis-point gain week-over-week.
Last week, we released our October update on the cannabis industry, where we looked at how the cannabis sector performed from January to October. Only a handful of stocks are in positive territory year-to-date including Canopy Growth, Organigram, and HEXO.