Sector: Real Estate
The overall cannabis sector was off to a weak start this week.
The cannabis sector is largely mixed today.
The Horizons Marijuana Life Sciences ETF (HMMJ) was trading slightly lower, down 0.35% while the ETFMG Alternative Harvest ETF (MJ) was up just 0.8%.
In the week ending May 10, the overall market sentiment was pessimistic with the TSE Composite Index losing almost 1.2%.
The overall cannabis sector was a mixed bag today with some of the big stocks trading in negative territory.
The overall market sentiment for the cannabis sector appears to have improved after the sell-off in the last few days.
Tilray (TLRY) stock fell as much as 5.5% last week, while Supreme Cannabis (SPRWF) fell ~4.4% in the week ending May 3.
The cannabis sector was on the rise in the first half of the day on May 3 after some major cannabis stocks received rating changes.
When real estate developers or REITs like AvalonBay (AVB) are confident about the economy, they build more in anticipation of future demand from consumers.