The stocks in the marijuana sector have pretty much traded in sync with the broad market since the March bottom, climbing strongly to late-May or early-June peaks and consolidating those gains since, with many stocks pulling back to sensible support levels.
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The marijuana sector looks increasingly healthy, as the leading companies continue to post triple-digit growth rates and the leading stocks continue to climb higher.
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While the broad market enjoyed a powerful upmove yesterday, the marijuana sector was even stronger, with the Marijuana Index surging 15%.
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As coronavirus matters continue to dominate the headlines and the world works toward slowly reopening, the action of marijuana stocks continues to impress—and with good reason.
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From top to bottom, the Marijuana Index fell 88% from early 2018 to last month’s market low, and now the recovery has begun.
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With the market down more than 30% since it peaked a month ago, it’s worth reviewing the reasons for the quick crash.
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The good news is that the amount of cannabis intercepted along all U.S. borders has fallen by 89% since 2011, from 2.5 million pounds per year to about 270,000 pounds in 2019.
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Marijuana stocks have been building a meaningful bottom since November—and there are good and bad aspects to that.
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Marijuana stocks remain under pressure (with a few exceptions), as firms struggle for growth and profitability.
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The stocks in are our portfolio are gradually looking healthier, as bargain hunters invest more carefully, focusing on the stocks with the best prospects for real revenue growth and real earnings.
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The broad market remains strong, while the cannabis sector remains stuck in the mud—in general.
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Marijuana stocks remain under pressure, as year-end tax selling pressures continue, but the marijuana industry is booming, as evidenced not only by recent quarterly reports but also by the growth of MJBizCon, the industry’s leading conference.
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One of our stocks is down sharply today on big volume following a report by short-sellers Grizzly Reports that accuses the company and insiders of numerous improprieties, ranging from political cronyism and corruption to overvaluation of assets to misrepresentation of financial relationships.
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The good news is that 2019, which started off so well for the cannabis sector but is ending so poorly, is nearing the finish line. The bad news is that we still have three weeks to go, technically, though many of those days see...
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Not a lot has changed since last week’s issue—overall, the cannabis sector remains in a correction—but there are a few stocks worthy of an update.
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Yesterday, the House Judiciary Committee approved the Marijuana Opportunity Reinvestment and Expungement Act (MORE Act), which has Democratic Presidential candidate and former prosecutor Kamala Harris as one of its sponsors.
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I’m making four changes to the portfolio today.
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It’s been a tough few months for cannabis investors, but no downtrend lasts forever, and yesterday’s blast-off by Aphria (APHA), which sparked buying across the sector, is a sign that the worst has almost certainly passed.
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Yesterday was the worst day of the year for cannabis stocks, with HEXO (no longer in our portfolio) leading the way down with a plunge of 22.5% after the company announced that revenue for the fiscal fourth quarter, ended July, would be $14.5 $16.5...
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The cannabis sector has been trending down since the end of March, giving back its spectacular gains from the start of the year, and until now I’ve remained optimistic about our stocks, partially because of their outstanding fundamental growth metrics but also because two...
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