Cannabis sector rises
The overall market sentiment for the cannabis sector appears to have improved after the sell-off in the last few days. The Horizons Marijuana Life Sciences ETF (HMMJ) was up 0.49%, while the ETFMG Alternative Harvest ETF (MJ) was down slightly by 0.14% as of 11:45 AM EDT on May 8.
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Leading the gains
Weakness in the cannabis industry has weighed on most of the players within it. Over the past several weeks, cannabis stocks have continued to fall while investors have awaited the next set of earnings reports.
In the first half of the day on May 8, a few stocks were leading in terms of gains. Emerald Health (EMHTF) was up 4%, while Aphria (APHA) was also on the move, with its stock up almost 4.4% as of around the same time.
Moving down the list, Green Thumb Industries (GTBIF) was also among the gainers, rising 3%, and Innovative Industrial Properties (IIPR) was up ~1.7%. Both stocks are highly active in the US market. In contrast, another stock that’s based in the United States, KushCo Holdings (KSHB), was down 2.4% in the first half of the day.