Cannabis stocks were mixed last week. Of the seven companies considered for our analysis in this article, three have given positive returns, while four of the companies’ stocks declined during the same period.
Stocks in the green
Last week, Trulieve Cannabis (TCNNF) (TRUL), Curaleaf Holdings (CURA) (CURLF), and Acreage Holdings (ACRG-U) (ACRGF) delivered positive returns. During the period, Trulieve’s stock rose by 12.0%, while Curaleaf and Acreage have returned 8.4% and 4.7%, respectively.
Last week, Trulieve announced it reached an agreement with the Florida Department of Health after the agency specified that only the dispensaries opened after the enactment of the statewide cap will be counted for the cap calculation. Also, Trulieve signed an agreement with Blue River Extracts & Terpenes, a California-based cannabis company, to bring its terpene extracts and other branded products to Florida. These announcements appear to have led to a rise in Trulieve’s stock price.
Stocks in the red
The stock prices of Green Organic Dutchman Holdings (TGOD) (TGODF), iAnthus Capital Holdings (IAN) (ITHUF), VIVO Cannabis (VIVO) (VVCIF), and MedMen Enterprises (MMEN) (MMNFF) fell by 8.9%, 0.9%, 2.0%, and 1.5%, respectively.
Last week, iAnthus Capital had posted its fourth-quarter earnings. For the quarter ended on December 31, the company posted revenue of $2.2 million, which represented a rise of 165% from $0.83 million in the fourth quarter of 2017. The company’s net loss for the quarter stood at $15.9 million.