14 Feb

Cannabis Stocks Fall before Canopy Growth’s Earnings

WRITTEN BY Adam Jones

Cannabis stocks

Before Canopy Growth’s (WEED) (CGC) earnings, most cannabis stocks fell. Canopy Growth fell nearly 1.6% at 11:45 PM EST on February 14. The cannabis sector ETF, the Horizons Marijuana Life Science ETF (HMMJ) fell nearly 0.73% on February 14, while the ETFMG Alternative Harvest ETF (MJ) fell ~1%.

Moving down the list of stocks that were trading in the red, Aurora Cannabis (ACB) lost nearly 2.7%, while OrganiGram (OGRMF) wasn’t far behind. OrganiGram stock fell ~2.6%.

Aphria (APHA) fell ~2.3%, while Tilray (TLRY) fell ~1.8% during the day. CannTrust (CNTTF) fell 1.7%, while HEXO (HEXO) fell ~1.4% around 12:00 PM EST on February 14. Cronos Group (CRON) wasn’t impacted as much as these stocks. Cronos Group fell ~0.29%.

Canopy Growth is scheduled to release its earnings after the market closes on February 14. Canopy Growth’s earnings will likely set the tone for other stocks. Investors are cautious before the big earnings release. Analysts lowered their estimates before the company’s earnings. To learn more, read Analysts Revised Canopy Growth’s Q3 Estimates.

To learn more about Aurora Cannabis, read Aurora Cannabis: Notes from Its Earnings Call.

Latest articles

Datadog shares have gained close to 18% in early market trading today. The company announced its Q3 results and reported revenues of $95.9 million.

Baker Hughes stock closed at $22.09 yesterday. Bearishness toward energy commodities has impacted the energy sector and may be limiting BKR stock.

After its Q3 2019 earnings release on October 23, PayPal (PYPL) stock has climbed 6.23% through November 11. The stock opened at $102.97 on November 12.

So far this month, Delek and HollyFrontier stocks have fallen 3.7% and 2.7%, respectively. In contrast, PBF stock has risen 2.3%.

Google has had several run-ins with its workers lately. Here are four ways the rise of employee activism at Google could hurt the company and investors.

The major video service players are under constant pricing threat. Here, we'll compare the performance of Comcast and Dish Network.