Yes, huge gains, but remember Cannabis had had it’s Bear run before the rest of the market so this means big % rises on stock that had dropped about as far as it could go. Will money stay in cannabis or will it disappear back to other stock once the market finally decides where it wants to start from again. There’s a long way to go yet.
There’s little positive in the markets at the moment so here’s Yahoo Finance’s quick look at how some Cannabis stocked performed over the 5 days of last week’s terror freefall period for most of the market
Yahoo Finance write….Cannabis stocks had a strong week nonetheless. Over the last five trading days:
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ETFMG Alternative Harvest ETF (NYSE: MJ) gained 24.7%.
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AdvisorShares Pure Cannabis ETF (NYSE: YOLO) rose 23.2%.
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Cannabis ETF (NYSE: THCX) spiked 28.3 %.
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Amplify Seymour Cannabis ETF (NYSE: CNBS) traded up 22.2%.
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SPDR S&P 500 ETF Trust (NYSE: SPY) closed the period up 10.75%.
Two big Canadian cannabis companies had especially good weeks, price-action wise:
Tilray Inc (NASDAQ: TLRY) closed the week up almost 150%, while …
Aurora Cannabis Inc (NYSE: ACB) posted gains of more than 41%.
While reasons were not totally clear, sources pointed toward a sector rebound, wider economic recovery, and “speculation that states could accelerate legalization as a way to recoup losses.”
Read more Yahoo on this at. https://finance.yahoo.com/news/week-cannabis-marijuana-stocks-outperform-201227261.html
