The big news of the past week was the state of Virginia becoming the first southern state to legalize marijuana. Virginia also became the 16th state, plus the District of Columbia, to do so nationally.
If you're looking for the best stocks to invest in in the cannabis sector, TheStreet's Debra Borchardt shared her top stock picks in the cannabis sector for 2021 at the beginning of the year.
Here is a list of the cannabis stocks to watch and their performance from this past week by the percentage change at the close of trading Mar. 5.
Tilray Inc. | Decreased -11.2%
Tilray Inc. (TLRY) - Get Report shares closed the first week of March down more than 11% after rising more than 35% in February. The stock jumped after the company announced fourth-quarter results that topped estimates ahead of its merger with Aphria (APHA) - Get Report.
Canopy Growth Corp. | Decreased -5%
TheStreet's Jim Cramer welcomed Canopy Growth CEO David Klein onto his Mad Money "Executive Decision" segment this past week.
Canopy's "secret sauce" is their partnership with Constellation Brands (STZ) - Get Report, Klein explained. His company is leveraging Constellation's production and distribution capabilities to bring products to market at a scale where others simply can't.
Real Money's Bruce Kamich took a look at the charts of Canopy Growth to see if there's a buying opportunity with the cannabis stock.
Aurora Cannabis Inc. | Decreased -9%
Aurora Cannabis (ACB) - Get Report fell for the week after a boost on Monday after Virginia became the 16th U.S. state, plus the District of Columbia, to legalize marijuana. The boost was short-lived as the stock fell nearly 10% this week.