Cannabis stocks in general stumbled in the latter half of last year. Wall Street expects profits, and none of these companies is anywhere near profitability. In the United States, high state and local taxes took a toll on sales, as did the lack of federal legalization of marijuana for either medical or recreational use.
While a fair number of these companies are based outside the United States, many of them trade on U.S. indexes. With Canada legalizing weed back in October of 2018, many hope that the United States will follow in the near future.
Many investors are wondering where the cannabis stocks go from here. With this increased speculation, short sellers have plenty of room to play with whether share prices have bottomed.
The March 31 short interest data have been compared with the previous figures, and short interest in most of these selected marijuana stocks decreased.
Short interest in Canopy Growth Corp. (NYSE: CGC) decreased to 39.64 million shares from the previous 44.76 million. The stock was trading at $14.29 Monday morning, within a 52-week range of $9.00 to $52.74.
The number of Cronos Group Inc. (NASDAQ: CRON) shares short decreased to 48.06 million from 57.20 million in the previous period. Its shares were trading at $5.69, in a 52-week range of $4.00 to $17.86.
Aurora Cannabis Inc. (NYSE: ACB) saw its short interest shrank slightly to 192.21 million shares from 192.56 million in the prior period. The stock was trading at $0.76. The 52-week range is $0.60 to $9.37.
Tilray Inc.’s (NASDAQ: TLRY) short interest increased to 15.33 million shares from the previous 10.30 million. Shares traded at $6.70, in a 52-week range of $2.43 to $54.10.
Short interest in Aphria Inc. (NYSE: APHA) decreased to 33.37 million from the previous 36.62 million. The stock was trading at $3.21, and its 52-week range is $1.95 to $9.13.
In OrganiGram Holdings Inc. (NASDAQ: OGI), short interest decreased to 9.08 million from the prior 11.68 million. The stock was trading at $1.80, and the 52-week range is $1.41 to $8.44.
Hexo Corp.’s (NYSE: HEXO) short interest fell to 28.70 million shares from the previous 30.40 million. The stock was trading at $0.47. The 52-week range is $0.34 to $8.40.
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s made it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.