A weak month for the sector
Tilray (TLRY) was among the worst performers in the cannabis (MJ) sector in March. The stock lost nearly 19% in March alone. The company is also the only one to have delivered a loss on a YTD basis when compared to peers. The stock is down by nearly 7% YTD.
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CRON also loses
Cronos Group (CRON) was the second-worst performer in March with a loss of 15% followed by CannTrust (CTST), which lost about 14%. However, unlike Tilray, both these stocks fared much better on a YTD basis with returns of 77% and 58%, respectively. Aphria (APHA) and Canopy Growth (WEED) didn’t do any better with a monthly loss of about 9% each. But these two stocks continued to hold their solid YTD gains with returns of 58% and 61%, respectively.
Aurora gains momentum
In contrast to these stocks, Aurora Cannabis (ACB) gained positive momentum with a 22% rise in March. The company returned about 78% YTD to investors, which included the gains in March. Similarly, HEXO (HEXO) gained 17% in March and has returned 87% YTD.
OrganiGram (OGRMF) wasn’t far behind with a YTD gain of 86% after adding 7% in March. Supreme Cannabis (SPRWF), Innovative Industrial Properties (IIPR), and Green Thumb Industries (GTBIF) delivered solid YTD gains of 64%, 80%, and 84%, respectively.