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Cannabis Stocks Had a Mixed Performance Last Week

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Cannabis stocks

Cannabis ETFs traded on a negative note last week. The Horizons Marijuana Life Sciences ETF (HMMJ) fell 1.2%, while the ETFMG Alternate Harvest ETF (MJ) gained 0.33%. The AdvisorShares Pure Cannabis ETF (YOLO) fell by 2.1%. In the week ended April 25, cannabis ETFs saw a sharp rally, and HMMJ and MJ rose 5.2% and 4.2%, respectively.

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Price action

Charlotte’s Web Holdings (CWEB) (CWBHF), Arena Pharmaceuticals (ARNA), and Cara Therapeutics (CARA) closed with gains of 3.4%, 1.5%, and 2.1%, respectively, last week. Village Farms International (VFF) and Green Organic Dutchman Holdings (TGOD) rose 1.9% and 2.8%, respectively.

Greenlane Holdings (GNLN), which was listed in April and soared more than 25% on its listing day, fell sharply last week. The stock fell 21.1% last week. It had fallen 14.5% in the week ended April 25 also. GNLN has come under pressure after its strong listing gains. Read Greenlane Holdings Gives You Exposure to the Cannabis Sector for more information. Supreme Cannabis Company (FIRE) and Cresco Labs (CL) closed in the red last week with losses of 4.4% and 8.2%, respectively.

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