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How Last Week Was for the Cannabis Sector

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Dec. 4 2020, Updated 10:52 a.m. ET

Cannabis ETFs

Last week (ended April 27), cannabis-sector ETFs ended in negative territory. The Horizons Marijuana Life Sciences ETF (HMMJ) fell ~4.1%, the Horizons Emerging Marijuana Growers Index ETF (HMJR) fell ~3.8%, and the ETFMG Alternative Harvest ETF (MJ) fell ~4.4%.

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Cannabis stocks

Most cannabis stocks also ended in negative territory last week, as shown in the above chart. Aurora Cannabis (ACB)(ACBFF) fell the most, by 11.2%. Canopy Growth (WEED) and Emerald Health (EMHTF) both fell ~8.9% each.

Aphria was next, falling ~7.5%, while Cronos Group (CRON) fell ~5.6%. Supreme Cannabis (SPRWF) fell 4.9%, Hydropothecary (HYYDF) fell 4.5%, and CannTrust (CNTTF) fell 4.1%. Organigram (ORGMF) fell 2%. In contrast, MedReleaf (MEDFF) ended positively, rising 1.1%.

Performance this year

With last week’s dismal performance, most of the cannabis stocks in the above chart have declined YTD (year-to-date). Aphria has fallen the most, by 51%, while Aurora Cannabis has fallen 35%. Emerald Health has fallen 33%, CannTrust has fallen 31%, and MedReleaf has fallen 26%. Canopy Growth has fallen 16% YTD, while Organigram and Cronos have both fallen ~13%. For more on the industry, read Market Realist’s Revisiting Valuation Multiples for Cannabis Companies.

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