The MORE Act was passed this past week and it was the first time that any cannabis bill addressing descheduling was approved by Congress. This bill will also change the tax code and allow companies to deduct certain expenses.
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 on Dec. 11.
Aurora Cannabis Inc | Decreased -9.09% | Price $9.91
Aurora Cannabis (ACB) – Get Report was the cannabis stock to keep an eye on this past week and it disappointed. Aurora is now down 59 percentage points year to date.
TheStreet Quant Ratings rates Aurora Cannabis Inc. as a Sell with a rating score of D-.
Arena Pharmaceuticals | Increased +3.19% | Price $69.91
Arena Pharmaceuticals (ARNA) – Get Report was one of the few stocks this week to rise. Arena Pharmaceuticals has a diversified list of drugs covering several illnesses.
Cronos Group Inc | Decreased -7.53% | Price $7.98
Cronos Group (CRON) – Get Report is up over eight percentage points year to date but fell this past week. Cronos Group will try to rise again this upcoming week.
Tilray Inc | Decreased -9.65% | Price $7.77
Tilray (TLRY) – Get Report is down over 50 percentage points year to date and fell again this past week. Investors are asking themselves if now is the time to buy the bottom with Tilray.
Cara Therapeutics | Decreased -1.13% | Price $14.91
Cara Therapeutics (CARA) – Get Report shares were mixed this week but the lead independent director recently sold shares.
Canopy Growth Corp | Decreased -7.21% | Price $26.53
Canopy Growth (CGC) – Get Report is reducing its operations which helped the stock early in the week but unfortunately, shares fell at the end of the week.
TheStreet Quant Ratings rates Canopy Growth Corp as a Hold with a rating score of C.
GW Pharmaceuticals | Decreased -12.41% | Price $120.43
GW Pharmaceuticals (GWPH) – Get Report is one of the most popular cannabis companies to buy. After shares fell over 12 percentage points, could this be the time to buy?
TheStreet Quant Ratings rates GW Pharma as a Sell with a rating score of D+.