Canopy Growth (WEED), Aphria (APHA), and Tilray (TLRY) did well in January. They have mainly held their gains in February. On February 11, Aurora Cannabis (ACB) reported its earnings. The company saw a significant boost in its revenues sequentially and year-over-year due to recreational cannabis. Aurora Cannabis’s earnings demonstrated that the expectations from recreational cannabis held up, which was reflected in how the company’s stock reacted. After Aurora Cannabis’s earnings, the stock was ~4.8% lower as of the closing on February 12.
In the above chart, you can see that Canopy Growth has returned nearly 60% YTD (year-to-date) to investors as of February 12 since the beginning of this year. Aphria isn’t far behind with a return of 53%. Both of these stocks outperformed the ETFMG Alternative Harvest ETF (MJ), which has returned ~38% during the same period.
Tilray underperformed Canopy Growth, Aphria, and MJ. Tilray returned ~7.7% YTD, which didn’t beat the market index TSE 300. The market index TSE 300 returned 9.2%, while the S&P 500 Index returned ~9.5% YTD.
Canopy Growth and Tilray are expected to report their earnings this week. Let’s look at analysts’ ratings and target prices for Canopy Growth, Tilray, and Aphria.