Cannabis ETFs Strengthen as Canopy Growth Pushes into U.S. Markets
Tuesday, 28 July 2020, 23:25:35
Cannabis sector-related exchange traded funds led the charge on Tuesday, shaking off the broader market malaise, as Canopy Growth (NYSE: CGC) partners with Martha Stewart to launch a website to sell CBD products in the U.S. Among the best performing non-leveraged ETFs of Tuesday, the ETFMG Alternative Harvest ETF (NYSEArca: MJ) advanced 4.3%, Cambria Cannabis ETF […] The post Cannabis ETFs Strengthen as Canopy Growth Pushes into U.S. Markets appeared first on ETF Trends .
— ETF Trends
The Week In Cannabis: Stocks Underperform Broader Market, Bad News For Zynerba, Organigram And More
Sunday, 5 July 2020, 20:00:34
It was a relatively quiet week ahead of the Fourth of July. Nonetheless, a handful of announcements had the cannabis markets buzzing. Zynerba Pharmaceuticals Inc (NASDAQ: ZYNE ) plummeted after the company, focused on the development of cannabinoid-based therapies for rare and near-rare neuropsychiatric disorders, said its product cadidate, Zygel, did not meet the primary and secondary endpoints of a pivotal study dubbed CONNECT-FX that evaluated the safety and efficacy of the pipeline asset in Fragile X syndrome patients. Canadian cannabis producer Organigram Holdings (TSE: OGI) (NASDAQ: OGI ) announced it would reduce its staff by 25%, firing 220 employees. In some positive news, Acreage Holdings Inc. (CSE: ACRG) (OTC: ACRGF ) finalized the $10-million purchase of New Jersey’s Compassionate Care Foundation Inc . (CCF). Lawn and garden care company Scotts Miracle-Gro (NYSE: SMG ) (FRA: SCQA) announced it would launch a $50-million venture capital fund, 1868 Ventures. The fund will invest in early stage companies that align with its business model and possibly operate as partners.
— Benzinga Feeds
The Week In Cannabis: Stocks Surge Despite Civil Unrest, And 15+ Other Stories
Sunday, 7 June 2020, 19:21:24
The U.S. faced one of its toughest weeks in recent history, with racial tensions manifesting in the form of nationwide protests, and the cannabis industry was not exempt. Dispensaries across the country were looted, and many companies decided to close their retail operations until further notice. “It’s been a difficult week for our country and unfortunately for a lot of dispensaries that were looted in the wake of protests. While property can be repaired, the wounds of inequality will take much longer to fix,” said Debra Borchardt, CEO of Green Market Report. “Despite the costs of the damage most of the dispensary owners seemed sympathetic towards the situation and I found that heartening.” Strangely enough, cannabis stocks thrived this week, with all major ETFs closing in the green. Over the five trading days of the week: The ETFMG Alternative Harvest ETF (NYSE: MJ ): gained 1.8%. The AdvisorShares Pure Cannabis ETF (NYSE: YOLO ): rose 4.2%. The Cannabis ETF (NYSE: THCX ): spiked 3%.
— Benzinga Feeds
The Week In Cannabis: A Great Week For Stocks Driven By Confusion, Aurora’s Rally, New Advisors To Benzinga
Sunday, 24 May 2020, 19:33:32
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, 20:13:40
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