The Week In Cannabis: A Great Week For Stocks Driven By Confusion, Aurora’s Rally, New Advisors To Benzinga
Sunday, 24 May 2020, 17:33:32
Despite a few hiccups like Green Growth Brands Inc (OTC: GGBXF ) filing for insolvency, this was a great week for marijuana stocks, with all major ETFs posting double-digit gains. Over the five trading days of the week: The ETFMG Alternative Harvest ETF (NYSE: MJ ): rose 16.6%. The AdvisorShares Pure Cannabis ETF (NYSE: YOLO ): advanced 19.8%. The Cannabis ETF (NYSE: THCX ): was up 24%. The Amplify Seymour Cannabis ETF (NYSE: CNBS ): gained 15.8%. The SPDR S&P 500 ETF Trust (NYSE: SPY ) closed the period up 3.2%. The rally, which began Thursday morning, was spurred by an item reported by the New York Post that day, even though the information contained in the article had been out for several days. Benzinga reported on it last week . Check out our explanation of what happened with The Coronavirus Confusion. Green Market Report CEO Debra Borchardt said it “wasn’t a complete surprise” that the company filed for insolvency. The saga could evidence a “new method of acquiring a cannabis company: lend money to a financially struggling company to the point they can’t pay it back and then when they default, take over,” she said. “It’s probably a whole lot cheaper than an outright acquisition since a lot of companies overvalue themselves.” Find our cannabis, hemp and psychedelics news in Spanish on El Planteo .
— Benzinga Feeds
Friday, 22 May 2020, 18:13:40
Cannabis stocks have been on a steady rise since Thursday morning, with all major U.S. traded ETFs, the ETFMG Alternative Harvest ETF (NYSE: MJ ), the AdvisorShares Pure Cannabis ETF (NYSE: YOLO ), the Cannabis ETF (NYSE: THCX ), and the Amplify Seymour Cannabis ETF (NYSE: CNBS ), up by double digits. Interestingly enough, the main driver of this rally was an item reported by the New York Post on Thursday on information had been out for several days — Benzinga reported on it last week . Certain strains of cannabis could help block ACE2 gateways, which the coronavirus uses to enter the human body, according to … Full story available on Benzinga.com
— Benzinga Feeds
Friday, 15 May 2020, 20:20:27
Marijuana sector-related exchange traded funds led the charge Friday after Aurora Cannabis (NYSE: ACB) revealed quarterly sales that beat expectations and highlighted a surge in demand on stockpiling in response to intensifying coronavirus outbreak. Among the best performing non-leveraged ETFs of Friday, the ETFMG Alternative Harvest ETF (NYSEArca: MJ) advanced 7.7%, Cambria Cannabis ETF (TOKE) increased […] The post Pot ETFs Surge After Aurora Cannabis’ High Sales During Coronavirus appeared first on ETF Trends .
— ETF Trends
The Week In Cannabis: Marijuana Stocks Continue To Beat The S&P, Brazil And Lebanon Move Forward, And More
Sunday, 26 April 2020, 19:30:25
The week of 4/20 came with no shortage of news. We saw a long list of online events to celebrate the international day of weed, while Los Angeles got its first cannabis and food drive-thru and Brazil authorized the production of its first cannabis-containing phytopharmaceutical product. In the Middle East, Lebanon became the first country to authorize the production of medical cannabis. Australia issued its framework for regulating the free sale of CBD products. In Colombia, Clever Leaves closed a joint agreement with a subsidiary of Canopy Growth Corp (TSX: WEED) (NYSE: CGC ) to enroll in a regional supply deal that will last at least one year, while Avicanna (OTC: AVCNF ) closed a private placement deal led by Chinese pharma giant Tasly. It’s important to note that both companies mentioned above are domiciled in Canada, despite conducting business in Colombia. And, in the U.S., Democrats in the House of Representatives introduced a bill this week that would allow cannabis businesses to benefit from emergency stimulus packages related to the COVID-19 pandemic.
— Benzinga Feeds
3 Cannabis ETFs For 4/20
Monday, 20 April 2020, 11:32:19
After a rough year in 2019 (to put it mildly), cannabis stocks and the related exchange-traded funds are incurring significant punishment again this year. The ETFMG Alternative Harvest ETF (NYSEARCA: MJ) — the bellwether fund in the group by virtue of its age — is off by nearly 33% this year and some once-beloved marijuana equities are flirting with or are deep into penny stock territory. That’s not the way marijuana investors want to celebrate 4/20, which is today and the “holiday” of sorts for cannabis connoisseurs. This year, there has been a little bit of everything when it comes to bad news for weed stocks. Dilutive capital raises, furloughed workers and reverse stock splits , just to name a few ominous scenarios. However, there are indications that some adventurous investors remain dedicated to the marijuana growth thesis. With them in mind and in the spirit of 4/20, here are a few cannabis ETFs that may eventually rise from near-death experiences. AdvisorShares Pure Cannabis ETF (YOLO) The AdvisorShares Pure Cannabis ETF (NYSE: …
— Benzinga Feeds