Here is today's cannabis stocks recap, with the winners, the losers and the news behind the moves. Thursday was a broad selloff: 18 of 22 eligible names fell, and MSOS closed below where it stood before Election Day.
ETFs: MSOS −4.6% ($4.13), MJ −2.8%, CNBS −4.5%, YOLO −1.8%
The standout
- Cronos (CRON): +6.0% to $3.72, on 3.9M shares, after setting a new 52-week high of $3.91 during the session
Losers
- Canopy Growth (CGC): −10.1% to $0.68, giving back all of Tuesday's and Wednesday's gains
- High Tide (HITI): −6.4% to $2.63
- Advanced Flower Capital (AFCG): −6.3% to $2.99
- Tilray (TLRY): −5.1% to $2.81
- Village Farms (VFF): −4.8% to $2.79
Canadian LPs: Cronos +6.0%, Aurora −1.0% ($5.19), SNDL −2.1%, Organigram −3.7%, Tilray −5.1%, Canopy −10.1%.
MSOs: Green Thumb $6.25 (−4.7%), Cresco $0.57 (−4.1%, within 3% of its 52-week low), Curaleaf $9.44 (−1.6%).
Ancillary and hemp: IIPR −1.8%, NewLake −1.4%, Scotts Miracle-Gro −1.2%, Turning Point Brands −4.2%.
How the news lines up with the moves
- Cronos reported Thursday morning that Q3 revenue rose 75% on flower demand in Israel and Germany. It was the only liquid name to close higher.
- Aurora barely moved after its fiscal Q2 revenue beat estimates, with record international medical sales. With Organigram's C$7.80-a-share deal on the table, the stock is trading mostly on the deal.
- The election pop faded. MSOS is down 8% from Tuesday's close. Coverage this week has turned to caution: legal analysts note the federal rules haven't changed yet, and Illinois officials are pushing for the federal hemp ban to take effect on schedule.
- International is the theme of earnings season. Cronos, Aurora and Canopy all pointed to growth outside Canada, with Canopy reporting international revenue up 141% on Friday morning, after this session.
These are correlations, not proof of cause.
Is the market waiting for Congress to act, or for the next round of earnings to prove the international story?
Not investment advice.
#cannabisstocks #MSOS #cannabisindustry #investing #CronosGroup #CRON #CanopyGrowth #CGC #AuroraCannabis #ACB #Tilray #TLRY #HighTide #HITI #GreenThumb #GTBIF #CrescoLabs
