Cannabis Stocks Decline in June 2.2% for the 3rd month in a row

Cannabis Stocks Decline in June 2.2% for the 3rd month in a row – RICH TV LIVE – JULY 1, 2019 – Cannabis stocks declined slightly last week. The Horizons Marijuana Life Sciences Index ETF (OTC:HMLSF) declined 1.7% and the ETFMG Alternative Harvest ETF (MJ) lost 0.9%. Meanwhile, the Horizons U.S. Marijuana Index ETF declined 1.3% after suffering heavy losses since it was launched this April. Canadian Large-Cap: Canopy (CGC) was flat after completing its transaction to acquire Acreage (OTCQX:ACRGF) upon the U.S. legalization. Aurora (ACB) gained 7% and it signed a definitive agreement to acquire Hempco (OTC:HMPPF). Tilray (TLRY) gave back some of its 29% gains in the prior week. We discussed Aphria (APHA) last week and why we think its valuation is attractive.

Canadian Mid-Cap: HEXO (HEXO) declined 6% after the research analyst at Oppenheimer downgraded the stock. OrganiGram (OGI) and CannTrust (CTST) both declined slightly without news.

Canadian Small-Cap: VIVO (OTCQB:VVCIF) bounced back 20% after losing 19% in the prior week. MediPharm (OTCQX:MEDIF) rose 7% after securing 9,000 kg of cannabis for white-label production. Several small-cap stocks jumped double-digits including Aleafia (OTCQX:ALEAF), Invictus MD (OTCQX:IVITF), Zenabis (OTCPK:ZBISF), and Auxly (OTCQX:CBWTF).

U.S. Large-Cap: U.S. MSOs were mixed last week. Curaleaf (OTCPK:CURLF) dropped 6% and it acquired two more dispensaries in Arizona. Cresco Labs (OTCQX:CRLBF) dropped 8% after a 22% rebound in the prior week. MedMen (OTCQB:MMNFF) continued its recent momentum and rose another 10%. Acreage dropped 14% after the ex-dividend date passed for its shareholders to receive C$2.63 per share in cash from Canopy. Charlotte’s Web (OTCQX:CWBHF) was flat after the big jump last week.

U.S. Small-Cap and International: Liberty Health (OTCQX:LHSIF) rose 10% likely on the back of the recent opening of its 16th location in Florida. KushCo (OTCQB:KSHB) rose 15% after announcing a new distribution center in Michigan. Green Growth (OTCQB:GGBXF) dropped 5% despite announcing an expanded deal to sell its CBD products at 161 A&F stores.


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