Home Cannabis These Cannabis Stocks Are Soaring in January

These Cannabis Stocks Are Soaring in January

Cannabis stock trends

Cannabis stock CannTrust Holdings (CNTTF) rose to $6.0 on January 15 from $4.8 at the close of market on December 31, 2018, representing a rise of ~25% in the first half of January 2019.

CannTrust’s revenue rose consistently in 2018, and the company undertook expansion plans for the sake of increased production capacity. To learn more, read CannTrust Holdings: Analysts Are Mainly Positive in January.

Cannabis

The stock prices of specialized pharmaceutical cannabis stocks GW Pharmaceuticals (GWPH), INSYS Therapeutics (INSY), and Cara Therapeutics (CARA) rose ~32%, 20%, and 17%, respectively, in the first half of January.

At the close of market on January 15, GWPH, INSY, and CARA reached $128.54, $4.20, and $15.20, respectively, from $97.39, $3.50, and $13.00, respectively, at the close of market on December 31, 2018. GW Pharmaceuticals’ launch of Epidiolex and its strong financial results boosted its stock. For more details, read Here Are Some of GW Pharmaceuticals’ Key Growth Drivers.

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Green Thumb Industries (GTBIF) and Green Growth Brands (GGBXF) rose ~61% and 35%, respectively, in the first half of January. Strong revenue growth and the awarding of licenses by regulatory departments boosted GTBIF. Read Why Cannabis Player Green Thumb Industries Is Soaring This Month for more details.

Cannabis ETF trends

In the first half of January, most cannabis stocks saw impressive growth. In the same period, the Horizons Marijuana Life Sciences Index ETF (HMLSF) rose ~28.72%. Top cannabis players Canopy Growth (CGC), Aurora Cannabis (ACB), Tilray (TLRY), and GW Pharmaceuticals make up ~13.08%, ~12.42%, ~9.60%, and 9.26% of HMLSF’s total portfolio holdings, respectively.

In the first half of January, the ETFMG Alternative Harvest ETF (MJ) rose ~23.42%. GW Pharmaceuticals, CannTrust Holdings, and Auxly Cannabis Group make up ~5.95%, ~3.60%, and ~4.68% of MJ’s total portfolio holdings, respectively. The rises of HMLSF and MJ, which track global cannabis stocks, were positive indicators for cannabis stocks in the first half of the month.

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