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CRON, ACB, CGC, APHA, and Other Cannabis Stocks Trend Lower


Mar. 21 2019, Published 1:18 p.m. ET

Cannabis sector

The overall cannabis sector was trading almost flat to negative in the first half of March 21. The Horizons Marijuana Life Science ETF (HMMJ) was flat a 23.1 Canadian dollars as of 12:05 PM ET, and the ETFMG Alternative Harvest ETF (MJ) was down 0.08%. Let’s look at the big losses and gains today.

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Stocks trend lower

Among the major cannabis companies, Cronos Group (CRON) was down 2.2% around noon while Aurora Cannabis (ACB) was down ~1.9%.

Canopy Growth (WEED)(CGC), which announced early this morning that it has made a new acquisition to move into the US market, was down 1.3%. See Canopy Growth Sets Its Eyes on the US Market.

Aphria (APHA) was down 0.79% at the time of this writing. HEXO (HEXO) was also trending lower, with its stock declining about 1.1% while Tilray (TLRY) was down about 1.4%.

Tilray continues to trade lower after it reported its earnings. In our ratings series this morning, we saw that analysts have turned bearish on the stock this month, and the consensus price target has also lowered from last month. See March Update: Analysts’ Ratings for TLRY, IIPR, and SPRWF.

In the next part of this series, we’ll look at how the remaining cannabis stocks are doing today.


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