Green Organic Dutchman and MedMen Performed Well Last Week

Cannabis sector

Last week, the Horizons Emerging Marijuana Growers Index ETF (HMJR), which tracks the performance of the North American public-listed small capitalization companies that are involved in the cannabis business, returned 6.0%, while the Evolve Marijuana ETF (SEED) returned 3.3%.

Green Organic Dutchman and MedMen Performed Well Last Week

Of the nine companies considered for our analysis, four companies have given positive returns, while five companies have given negative returns.

Top performers

From January 18 to January 25, The Green Organic Dutchman Holdings (TGODF) and MedMen Enterprises (MMNFF) have returned 31.8% and 10.4%, respectively.

Last week, Green Organic Dutchman Holdings announced that it had signed a definitive agreement with Queen Genetics to form two 50/50 joint ventures. The first one is for the production of commercial cannabis and cannabis oils, and the second is for the development and patenting of innovative and commercially valuable elite cannabis genetics. Also, the company’s stock price was boosted by the ruling of the Ontario Superior Court of Justice, which approved the previous arrangement between TGODF and SpinCo, which was announced on October 25, 2018.

Also, during the same period, Curaleaf Holdings (CURLF) and iAnthus Capital Holdings (ITHUF) have returned 6.3% and 3.1%, respectively. Last week, ITHUF was listed among the 2019 OTCQX Best 50 companies based on its performance in 2018.

Stocks in negative territory

Trulieve Cannabis (TCNNF) was under pressure last week with a 10.3% decline. Trulieve was followed by Acreage Holdings (ACRGF), Planet 13 Holdings (PLNHF), VIVO Cannabis (VVCIF), and Wayland Group (MRRCF) with falls of 4.6%, 4.5%, 3.1%, and 1.4%, respectively.

You may also be interested to read our recently published series: Can iAnthus Capital Maintain Its Upward Momentum in 2019? and Will 2019 Be the Year of Acreage Holdings?