The cannabis sector was mixed last week. In this part, we’ll discuss the stocks that moved in the same direction. The Horizons Marijuana Life Sciences (HMMJ) fell 1.1%, while the ETFMG Alternative Harvest ETF (MJ) fell ~1.4% last week.
Stocks that declined
Last week, Cronos Group (CRON) was among the biggest losses, which you can see in the above chart. Cronos Group fell nearly 8.4% from the closing on March 15 to the closing on March 22. Tilray (TLRY) was next with a weekly decline of ~7.4% followed by Aurora Cannabis (ACB), which fell 5.7%.
Last week, the weakness in the cannabis sector was amplified towards the end of the week. The weakness was sparked by a growing fear of a recession hitting the US as the yield curve inverted. A yield curve inversion has preceded previous recessions in the United States.
To learn which companies in the cannabis sector ended in the positive territory, visit MarketRealist’s Healthcare sector page.