25 Mar

Cannabis Sector: Biggest Losses Last Week


Biggest losses

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.

Cannabis Sector: Biggest Losses 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%.

Canopy Growth (WEED) (CGC) fell last week—3.3% lower compared to the week ending March 22. KushCo Holdings (KSHB) had a weekly loss of 0.88%, while Aphria (APHA) fell 0.16% last week.

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.

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