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Cannabis Stock Watchlist: Cronos Rises on Investment in PharmaCann

The benchmark ETFMG Alternative Harvest ETF was little moved last week, but Cronos shares are rising after it announced a new investment.
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Shares of the benchmark ETFMG Alternative Harvest ETF  (MJ) - Get Report rose slightly last week as a few cannabis names made big moves. 

Here's a rundown of some of the biggest names in cannabis and their stock movements last week.

Cronos Group Inc. | Increased +3.55%

Cronos Group  (CRON) - Get Report shares were rising Monday, building on last week's increase after the company announced one of its subsidiaries had agreed to purchase an option to acquire a 10.5% ownership stake in PharmaCann, one of the largest vertically integrated cannabis companies in the U.S. 

Tilray Inc. | Increased +5.75%

Tilray  (TLRY) - Get Report rose nearly 6% last week after CEO Irwin Simon told CNBC that he is supportive of retail traders who have championed certain stocks, creating wild trading swings and short squeezes. "That group of Gen Z that are out there trading within our stock today, they're technology savvy. They're retail savvy. They're brand savvy. You want them as investors," CEO Irwin Simon said. 

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Trulieve Cannabis Corp. | Decreased -2.8%

Shares of Trulieve  (TCNNF) - Get Report fell last week after the company after the company announced the results of its 2021 annual shareholders meeting in which each of the eight individuals nominated for election to the company's board were elected, including two new nominees. 

Green Thumb Industries Inc | FLAT

Shares of Green Thumb Industries  (GTBIF)  were flat last week after a private investment holding company controlled by CEO Benjamin Kolver sold 1.66 million subordinate voting shares to a third party at a purchase price of $30 per share in a private transaction. “This transaction brings Green Thumb a new institutional shareholder who is aligned with management's long-term vision,” said Kovler.