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Markets Rebound but Cannabis Stock Performance Is Mixed

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Dec. 4 2020, Updated 10:50 a.m. ET

Markets rebound

Markets rebounded today after the recent sell-off fueled by US-China trade tensions. As of noon, the S&P 500 had gained ~1.3% and the TSX Composite had gained ~0.84%, whereas the cannabis sector appeared mixed with some stocks trading in negative territory.

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Stocks fall

In today’s first half, Canopy Growth (WEED) (CGC) fell ~0.44%. Canopy Growth has trended lower this month but has held onto its year-to-date gain of ~60%.

Aphria (APHA) had also fallen as of noon, by 0.6%, while CannTrust (CTST) had fallen ~2.4%. However, CannTrust has gained ~7% since May 14 thanks to its earnings results fueling some optimism in the stock.

Tilray (TLRY) and Emerald Health (EMHTF) had also fallen as of noon, by 1% and 0.8%, respectively. Green Thumb Industries (GTBIF) and Slang Worldwide (SLNG) had fallen ~1.7% and ~1.3%. In contrast, the Horizons Marijuana Life Sciences ETF (HMMJ) rose 0.54% in today’s first half.

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