On October 4, the US markets were trading higher following the release of the US jobs data for September. CNBC reported that the US economy had added 136,000 jobs in the month. The CNBC article also stated that the unemployment rate had fallen to a 50-year low of 3.5%. At 1:10 PM, the S&P 500 and the Dow Jones Industrial Average were both up 0.9%. Cannabis ETFs followed suit.
Cannabis ETFs’ performances
Curaleaf’s chair purchases shares
On October 3, Curaleaf Holdings (CURA) (CURLF) reported that its executive chair, Boris Jordan, bought 100,000 shares of Curaleaf on September 27. He bought the shares at an average price of $8.21 each. Despite the announcement, the company was down 1.4% today as of 12:50 PM ET.
This year has been a good one for Curaleaf. The company has returned 40.4% as of October 4, outperforming its peers and the broader equity markets. For a look at analysts’ ratings on the stock, read Curaleaf: Analysts’ Target Price and Ratings.
Aurora Cannabis stock falls
Yesterday, Aurora Cannabis provided an update on its current operations and the progress of the construction of its upcoming facilities. For more information on Aurora’s update, read Aurora’s Growth Initiative Update Drives Its Stock. The company’s update led its stock to rise 8.1% on October 3. However, today, the stock was down 0.3% as of 1:00 PM ET.
YTD (year-to-date), Aurora has lost 11.4% of its stock value. It’s been under pressure since it reported lower-than-expected revenue in its fourth quarter. However, the company is focusing on Cannabis 2.0 and expanding its cannabidiol market in the US to drive its growth.
HEXO was up over 3%
After rising 5.0% on October 3, HEXO (HEXO) stock was up another 3.2% today as of 1:00 PM ET. YTD, its stock is up 11.9% as of October 4. On September 20, MKM Partners initiated coverage on HEXO with a “buy” rating, which led to a rise in its price. For more on analysts’ ratings on HEXO, check out HEXO: Analysts’ Target Price and Ratings.
Aphria was trading in the green
Today, at 1:00 PM ET, Aphria (APHA) was up 0.7%. Earlier this week, the company announced that it would report its fiscal 2020 first-quarter earnings on October 15. In the fourth quarter of fiscal 2019, Aphria outperformed both analysts’ top and bottom line expectations, which led to a rise in its stock price. However, the weakness in the cannabis sector appears to have offset some of its gains.
As of October 4, the company’s stock had risen 3.8% since it reported its fourth-quarter results. The company is also getting ready for the second phase of legalization in Canada. For more information, read Cannabis 2.0: Aphria Gets Ready for Edibles Market.