Cambria Cannabis ETF

It looks like cannabis stocks had a great day. Innovative Industrial Properties (IIPR), Cronos Group (CRON), and Tilray (TLRY) are all surging today.

On December 9, Canopy Growth (CGC) appointed David Klein as its new CEO effective January 14. He’s the current CFO of Constellation Brands.

As market analysts increasingly predict an upcoming global recession, we take a look at the impact of a recession on cannabis stocks.

On October 8, MedMen Enterprises (MMEN) (MMNFF) announced that it would not buy PharmaCann. Both parties decided to call off this all-stock transaction. MedMen valued PharmaCann at $682 million. The company planned to fund the deal through equity dilution. Once the deal was complete, PharmaCann shareholders would account for 25% ownership in the new combined […]

According to a report by Barron’s on January 7, Stifel analysts expect a rebound in the cannabis sector in the first half of 2020.

CBC News has reported the Ontario government plans to remove the cap on the number of cannabis shops owned by private retailers in the province.

The cannabis industry faces regulatory obstacles in Canada and legal risks in international markets. Valuations of these stocks are close to all-time lows.

Jim Cramer expressed disappointment with the cannabis industry, claiming it may not be the “incredible opportunity” he thought it was.

On November 18, Aurora Cannabis (ACB) closed at 3 Canadian dollars on the TSX, a 16.43% drop and the third-worst trading day for it in three years.

So far, November has been tough for the cannabis sector. Most cannabis companies have reported lower-than-expected earnings.

After falling for the first two days this week, the cannabis sector maintained that weakness today. Let’s look at some cannabis stocks that are in the news.

On October 25, Aurora Cannabis said that a research study showed that its CanniMed 1:20 oil could lower or cure seizures in young patients with severe epilepsy.

The cannabis sector saw a small rally in the week that ended on October 24. The ETFMG Alternative Harvest ETF (MJ) rose 1.94% in the week.

Analysts are increasingly bearish on cannabis stocks as the US–China trade war brings more uncertainty and volatility to the global market.

The cannabis sector continued its downward movement in the week that ended on October 10, with ETFs and prominent cannabis players falling.

Aurora Cannabis and Aphria are down 17.14% and 5.27%, respectively, year-to-date. These performances are mostly in line with the cannabis sector downtrend.

The cannabis sector was trading in the red for the week ended October 3. The sector’s ETFs broadly ended the week in negative territory.

Cannabis stocks remained under pressure in September. Weak investor sentiment for the cannabis sector was a factor in the last week of the month.

Last week, ending on September 27, the cannabis sector was weighed down by the bears. Sector ETFs broadly ended the week in negative territory.

In the wake of its regulatory scandals, the cannabis sector lagged the equity market in August. YTD, MJ and HMMJ have fallen 3.7% and 1.5%, respectively.