Increase in the cannabis sector
The entire cannabis sector increased in the first half of the day on 24 May. Aphria (APHA) led the pack with an increase of 8% after Jefferies launched a "buy" to cover its stock. Rating and a target price of 15 Canadian dollars.
The industry benchmark, the Horizons Marijuana Life Sciences ETF (HMMJ), gained 0.81%, while the ETFMG Alternative Harvest ETF (MJ) rose nearly 1.2% at midday. Let's take a look at the movements of other stocks in the cannabis sector today.
CRON, HEXO and IIPR growth
The Cronos Group (CRON) also saw a rise in the first half of the year with a plus of ~ 2% at midday. HEXO (HEXO) was not far behind with an increase of 1.8% at the same time. We reported the most recent changes to the HEXO price target together with the valuations this morning. Read the HEXO price target for more information in May.
Innovative Industrial Properties (IIPR) were also in the green during the first half of the day with a rise of 1.2%, followed by Green Thumb Industries (GTBIF). That was an increase of nearly 1% at noon. KushCo Holdings (KSHB) and OrganiGram (OGI) both gained 1.9% and 4.9% respectively in the first half of the year. Aurora cannabis (ACB) increased by almost 0.63%.
By contrast, Tilray (TLRY) fell 1.4% and Slang Worldwide nearly 7.7% around noon.