Cannabis Stocks Tumbled in Morning Trading

Tiger Newspress2022-03-28

Cannabis stocks tumbled in morning trading. Clever Leaves Holdings, Canopy Growth, HEXO, Aurora Cannabis, Sundial Growers, Cronos Group, Tilray, Organigram and Jushi Holdings fell between 3% and 33%.

They are all trading lower due to profit-taking from last week's rally amid news the U.S. House Rules Committee scheduled a Monday afternoon meeting to prepare a federal marijuana legalization bill for floor action.

Several cannabis stocks saw marked interest on social media during last Thursday's after-hours and throughout last Friday's trading sessions. At the time of publication, Tilray is trending on Stocktwits amid Monday's selling pressure.

Cannabis stocks may have experienced a short squeeze during last Thursday and Friday's trading sessions. According to data from Benzinga Pro, Tilray has a short percentage of share float of 39.8%; Canopy Growth has a short percentage of share float of 19.7%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Yoshizawa
2022-04-03
Yoshizawa
ok
WifeWhyWhy
2022-03-29
WifeWhyWhy
Ok
Vincent1968
2022-03-29
Vincent1968
[Sad] [Sad]
andrew123
2022-03-29
andrew123
Like
Bull1973
2022-03-29
Bull1973
Ok
Weeckee
2022-03-29
Weeckee
I will say avoid

Leave a comment

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