Cannabis stocks are up
As of February 15, the overall cannabis sector is up overall, lifted by Canopy Growth’s (WEED) (CGC) earnings and Aphria’s (APHA) special committee findings related to its Latin American business. Read Aphria Reports Committee’s Findings after Short Seller Criticism.
Aphria has emerged as the top gainer among notable cannabis stocks with a rise of 5% as of 2:10 PM EST today. Canopy Growth has risen nearly 3.5% as of around the same time. Other stocks leading the pack include Cronos Group (CRON), which is up 3%, and OrganiGram (OGRMF), which is up 2.3%.
The Horizons Marijuana Life Sciences ETF (HMMJ) has risen ~2.1% as of 2:10 PM EST, while the ETFMG Alternative Harvest ETF (MJ) is up 2.1%. CannTrust (CNTTF) is also among the gainers. It’s up 1.3% followed by HEXO (HEXO), which is up nearly 1%.
Tilray (TLRY) rounds out the list with a rise of ~0.40% as of around the same time today.
The cannabis sector has been met with optimism due to Canopy Growth’s year-over-year surge of 283% in sales in the third quarter of fiscal 2019, which continues to validate the demand in the recreational cannabis sector along with the potential opportunities for these cannabis players. Read Analyzing Canopy Growth’s Q3 Results for more information.