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.
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.
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%.