Can ACB’s and CWEB’s Earnings Help Cannabis?
The cannabis sector is struggling while the broader equity market is trading close to an all-time high. As of yesterday, the ETFMG Alternative Harvest ETF ( MJ ) had fallen 21.1% this year. Meanwhile, the S&P 500 had increased by 22.6%. The index closed at 3074.62 points yesterday, close to its all-time high of 3085.20 points. Expectations of a slowdown in cannabis sales in this year’s second half, vaping-related deaths, and high operating losses appear to have dragged down cannabis stocks.