... another candidate
https://www.zdf.de/nachrichten/politik/ampel-parteien-legalisierung-cannabis-100.html
Cannabis stocks were the best performing healthcare stocks last week, ahead of fresh legalization move
Marijuana players dominated top performers in healthcare this week ahead of a Republican-led attempt for federal legalization of cannabis in the U.S. Meanwhile, less than favorable quarterly earnings hurt decliners.
However, the healthcare stocks ended the week in positive territory with a ~0.6% gain to become the second-best performing sector in the S&P 500, narrowly beating the ~0.3% drop in the broader index.
Among stocks with more than $2B market capitalization and over 100K average daily volume over the past five sessions, Canopy Growth $11L1 surged the most with a 29.5% gain. Its local rivals, Aurora Cannabis $21P1 and Tilray $2HQ (-3.75%) , were not far behind, rising 27.6% and 20.9%, respectively to group among the top five performers.
The resurgence of cannabis players comes at a time the ETFs Global X Cannabis and AdvisorShares Pure US Cannabis remain sharply lower from their February peak and precedes the launch of a Republican bill on Monday to legalize marijuana at the federal level.
The proposed legislation led by Rep. Nancy Mace (R-SC) is said to have a softer regulatory approach compared to the bill introduced by Senate Majority Leader Chuck Schumer (D-N.Y.) in July, Bloomberg reported, citing people who have seen the draft.
Citing the recent underperformance of U.S. MSOs and the latest legislative move favoring the industry, Cantor Fitzgerald analyst Pablo Zuanic noted: “The tide will likely lift all boats.”
I am keeping an eye on $7CI (-3.32%) that is also reporting earnings on Monday before the open.
What do you guys think? Time to invest again in cannabis stocks?
The price target is $2.963 and the stock is covered by 7 analysts.
Buy
3
Hold
3
Sell
1
Cronos Group Inc. is a Canada-based global cannabinoid company engaged in building intellectual property by advancing cannabis research, technology and product development. The Company’s segments include United States and Rest of World. The United States operating segment consists of the manufacture and distribution of hemp-derived CBD infused products. The Rest of World operating segment is involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets. The Company’s international brand portfolio includes Spinach, PEACE NATURALS, and Lord Jones. The Lord Jones are hemp-derived cannabidiol (CBD) brand. Its Lord Jones Hash Fusions is a line-up of premium ice water hash infused pre-rolls. Its PEACE NATURALS offers Peppermint CBD, a blend of CBD extract, quality medium-chain triglycerides (MCT) oil, and a hint of natural peppermint flavor.