Tag: medmen stock

As of Tuesday, Charlotte’s Web Holdings was trading at 18.15 Canadian dollars, which implies a fall of 37.0% since its second-quarter earnings on August 14.

Two Pennsylvania senators introduced a comprehensive marijuana legalization bill on Tuesday. Senator Daylin Leach and Sharif Street introduced the bill.

October has been tough for the cannabis sector. As of Monday, MedMen was trading at 1.58 Canadian dollars, which represents a fall of 18.6% this year.

The US markets rose on optimism surrounding US-China trade talks. However, weakness in the cannabis sector led the cannabis ETFs trading in the red.

At 1:40 PM ET, the S&P 500 and the Dow Jones Industrial Average were up 0.2% and 0.3%, respectively. However, cannabis ETFs were trading in the red.

Today, the US markets were trading in the green on the expectation of rate cuts. The cannabis ETFs and the majority of cannabis stocks were also up today.

This year, the cannabis sector has been underperforming the broader equity market. Will cannabis stocks bleed more after MKM Partners' bearish outlook?

Yesterday, iAnthus Capital announced Gotham Green Partners is to invest an additional $100 million in iAnthus to fund its expansion plans.

Today, the broader US equity market was trading in the red. At 2:15 PM ET, the S&P 500 and the Dow were down 0.1%. The cannabis sector showed more weakness.

With today's decline in September's Consumer Confidence Index, the broader equity markets and the cannabis sector took a hit as well.