Cannabis stocks mixed
On February 15, the cannabis sector was broadly mixed with some in the positive territory and some in the negative territory.
Canopy Growth (WEED)(CGC) saw the biggest loss with a daily loss of about 3.5% as of 1:35 PM ET. The stock was broadly lower today after GMP Securities cautioned investors about rationalizing expectations for the company’s future revenue growth and profitability. See GMP Securities Cautions Investors on Canopy Growth. However, earlier today, the company received price target upgrades from four investment firms. Check out PI Financial, CIBC, Cormark Upgrade Canopy Growth Price Targets.
Aurora Cannabis (ACB) was next on the list with a decline of about 1.4% around 11:35 PM ET, and OrganiGram (OGRMF) was next with its stock falling about 0.7%. Aphria (APHA) was down 0.3%.
The Horizons Marijuana Life Sciences ETF (HMMJ) declined nearly 0.29% and the ETFMG Alternative Harvest ETF (MJ) declined nearly 0.36%.
In contrast, Cronos Group (CRON) was among the gainers with a 0.36% daily gain. Tilray (TLRY) was also in positive territory with a gain of about 0.18%. HEXO Corp (HEXO) and CannTrust (CNTTF) were among the biggest gainers as well.