Here is today's cannabis stocks recap, with the winners, the losers and the news behind the moves. U.S. operators and ancillary names led a modestly green session. Tilray slipped to within two cents of its 52-week low.
ETFs: MSOS +0.74% ($4.08), MJ +0.22%, CNBS +0.84%, YOLO +2.34%
Winners
- Scotts Miracle-Gro (SMG): +3.7% to $61.87, on 1.18M shares
- Cresco Labs (CRLBF): +2.8% to $0.63
- Auxly (CBWTF): +2.6% to $2.62, within 1.5% of its 52-week high
- Turning Point Brands (TPB): +2.5% to $68.81
- Curaleaf (CURLF): +1.3% to $8.59
Losers
- InterCure (INCR): −7.8% to $4.12
- Tilray (TLRY): −1.9% to $2.64, on the group's heaviest volume (4.15M shares) and closing $0.02 above its 52-week low
- NewLake Capital (NLCP): −1.2% to $13.63
- High Tide (HITI): −1.1% to $2.66
MSOs: Curaleaf +1.3%, Green Thumb $6.43 (+0.3%), Cresco +2.8%. Even after the move, Curaleaf and GTI trade well below their 52-week highs of $15.15 and $10.43.
How the news lines up with the moves
- Hemp bans and MSO revenue. MJBizDaily reported that state hemp-THC bans are already lifting marijuana MSO revenue, citing Ohio sales up 25% since its ban. MSOS and the large MSOs all closed green the same day.
- Company news. Curaleaf completed its first New York incubator for independent shops, and Cresco's Sunnyside opened a medical dispensary in Kentucky. Both stocks led the MSO group.
- Tilray kept sliding on the same day it announced the next phase of its beverage transformation, as the federal hemp-THC drink deadline approaches on Dec 11.
- Cannabis REITs split: IIPR rose 1.1% while NewLake fell 1.2%.
These are correlations, not proof of cause. Most moves were inside normal daily ranges.
Are hemp restrictions a real tailwind for licensed operators, or a one-quarter bump?
Not investment advice.
#cannabisstocks #MSOS #cannabisindustry #investing #hemp
