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Cannabis Sector Update for the Week Ended May 4

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Nov. 20 2020, Updated 2:36 p.m. ET

Cannabis sector

Last week was broadly positive for the cannabis sector. The ETF Horizons Marijuana Life Sciences (HMMJ) rose 2.4%, while the ETFMG Alternative Harvest ETF (MJ) rose 3.1% last week. On the other hand, the Horizons Emerging Marijuana Growers Index ETF (HMJR) fell 1.3%, while Evolve Marijuana ETF (SEED) fell by 79 basis points last week.

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Cannabis stocks

Eight of the ten cannabis stocks in the above chart ended the week in the flat to positive territory with CannTrust (CNTTF) gaining ~24.3% to 8.4 Canadian dollars, followed by MedReleaf (MEDFF), which rose 17% to end at 23.3 Canadian dollars.

Last week, Hydropothecary (HYYDF) rose 10% to close at 4.5 Canadian dollars, while Canopy Growth (WEED) gained as much as 9.6% last week to end at 29.97 Canadian dollars. Aurora Cannabis (ACB) gained about 5% to close at 8.0 Canadian dollars, and Organigram (ORGMF) gained 4.9% to end at 4.1 Canadian dollars. Emerald Health (EMHTF) gained 2.3% to close at 4.5 Canadian dollars, and Aphria (APHQF) ended last week flat at 9.8 Canadian dollars.

In contrast to these stocks, Cronos Group (CRON) fell 15.1% to 7.5 Canadian dollars, while Supreme Cannabis (SPRWF) lost about 3.2% to end at 1.5 Canadian dollars.

YTD performance

YTD (year-to-date), Aphria continues to have the highest YTD loss of 51%, followed by Supreme Cannabis, which has fallen 44% year-to-date. Aurora Cannabis was right behind with a 32% decline followed by Emerald Health’s 31% YTD decline. MedReleaf was down 13%, and Canopy Growth was down 7%.

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