Cannabis Stocks ACB, HEXO, CGC, TLRY Slump Despite Senate Meeting
Tuesday, 26 July 2022, 21:24:13
Despite having some favorable legislation in the pipeline, cannabis stocks continue to struggle. As we look across the board on Tuesday, Aurora Cannabis (NASDAQ: ACB ) and Canopy Growth (NASDAQ: CGC ) are both down about 5.5%. Hexo (NASDAQ: HEXO ) is faring a bit better, down about 4%, while Tilray (NASDAQ: TLRY ) is down less than 3%. Still, bulls are desperate for a win right now, and today’s action is a bit baffling. It comes on the heels of federal legislation being put forward in Washington. Today, the Subcommittee on Criminal Justice and Counterterrorism is meeting to discuss decriminalizing marijuana. The hearing is titled “Decriminalizing Cannabis at the Federal Level: Necessary Steps to Address Past Harms.” The goal is to remove cannabis as a Schedule I controlled substance and expunge prior federal marijuana convictions. Further, lawmakers want to allow states to set their own cannabis laws. That’s all under the Cannabis Administration and Opportunity Act (CAOA), but there are also banking considerations.
7 Best Marijuana Stocks to Buy Now
Thursday, 21 July 2022, 13:30:38
The ETFMG Alternative Harvest ETF (NYSEARCA: MJ ) finished June down 19.6%, more than double the decline of the S&P 500 , which lost 8.4% on the month. In turn, the best marijuana stocks to buy got a lot cheaper in June. Overall, it’s been a tough year for the cannabis industry. MJ stock has lost 44% year-to-date (or YTD). and the AdvisorShares Pure US Cannabis ETF (NYSEARCA: MSOS ) has done even worse, down just over 50% YTD. Benzinga recently produced a chart that shows large cannabis multi-state operators (MSOs) have an enterprise value to EBITDA (earnings before interest, taxes, depreciation and amortization) of 5 times, cheaper than 11 other major industries, including healthcare products, hotel/gaming, and food processing. Not only are large cannabis MSOs cheap on an EV/EBITDA basis, but the expected growth in revenue between 2021 and 2023 is higher than all but one other industry mentioned in Benzinga’s chart. 7 Best Small-Cap Growth Stocks to Buy Now So, between legalization initiatives in various states and an ongoing consolidation movement, an excellent place to start for the best marijuana stocks to buy is the large MSOs.
Sunday, 19 December 2021, 15:46:41
Schnieders Capital Management LLC lessened its holdings in shares of ETFMG Alternative Harvest ETF (NYSEARCA:MJ) by 16.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,430 shares of the companys stock after selling 6,000 shares during the quarter. Schnieders Capital Management LLCs holdings in 
— Dakota Financial News
Hanson & Doremus Investment Management Has $54,000 Stock Holdings in ETFMG Alternative Harvest ETF (NYSEARCA:MJ)
Thursday, 9 December 2021, 12:42:42
Hanson & Doremus Investment Management boosted its stake in shares of ETFMG Alternative Harvest ETF (NYSEARCA:MJ) by 334.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,731 shares of the companys stock after purchasing an additional 2,873 shares during the period. Hanson & Doremus Investment 
— Dakota Financial News
Monday, 15 November 2021, 15:30:47
BDO Wealth Advisors LLC cut its holdings in ETFMG Alternative Harvest ETF (NYSEARCA:MJ) by 25.7% during the second quarter, Holdings Channel.com reports. The fund owned 3,588 shares of the company’s stock after selling 1,244 shares during the period. BDO Wealth Advisors LLC’s holdings in ETFMG Alternative Harvest ETF were worth $74,000 at the end of […]
— Transcript Daily
We recommend that you check out Capital.com as they have a very good selection of stocks available for both going short and long.