Cannabis stocks were poised to start the week higher with the benchmark ETFMG Alternative Harvest ETF (MJ) rising after closing out Friday's session up 2%. Shares are down Monday.
Here is a list of cannabis stocks to watch and their performance from the past week by the percentage change at the close of trading on Mar. 19.
Canopy Growth | Decreased -2%
Canopy Growth (CGC) fell last week after the company agreed to a $750 million senior secured term loan with funds advised by King Street Capital Management. The term loan matures on March 18, 2026, has a coupon of LIBOR plus 8.5% and has no amortization payments.
Trulieve Cannabis Corp. | Increased +0.5%
Village Farms International | Decreased -11%
Village Farms (VFF) dropped over the past five sessions after the company reported fourth-quarter revenue of $47.4 million, which fell short of analyst expectations of $54 million. Despite the miss, the top-line result marked a 43% year over year gain driven mainly by the acquisition of Pure Sunfarms.
Green Thumb Industries | Decreased -2.8%
Green Thumb Industries (GTBIF) decreased last week after the company reported a 134% increase in year-over-year December quarter sales to $177 million. The company also reported profits for the second consecutive quarter at 11 cents per share. Analysts were expecting earnings of 6 cents a share on revenue of $167 million.
Hexo Corp | Decreased -7.66%
Last week, Hexo (HEXO) reported a 94% increase in quarterly revenue to $32.9 million with a net loss of 17 cents per share. Analysts were expecting revenue of $32.4 million with a net loss of just 5 cents per share.