The Global Cannabis Stock Index sold off from the open and went out near the low, decreasing 1.9% to 107.54. The index, which posted a multi-month intraday low near 94 on April 4th that was followed with a low near 95 on April 10th, is up 0.6% in June but is down 25.8% in 2018.
6 names in the broad market of most actively traded stocks had dollar-volume above $5 million, while the total above $1 million was 25. 52% of the stocks traded above their one-month average volume, up from the 45% in the prior session. There were 5 double-digit winners and 1 double-digit decliner. 34% of the 56 most heavily-traded stocks showed gains.
The stocks moving more than 5% on more than $1 million U.S. trading value included MRMD, INSY, SING and HEMP to the upside and CHOOF, MCIG, CVSI and ITHUF to the downside.
The LPs tried to rally early but fell for the sixth straight day, with the Canadian Cannabis LP Index decreasing 0.2%. Tier 1 fell 0.6%, Tier 2 fell 0.2% and Tier 3 fell 0.2%. The index, which remains well above its double-bottom intraday low near 800, is now down about 13.2% year-to-date
Aurora Cannabis consolidated volume in Canada was 7.8 million shares ($71 million), Aphria was 3.6 million shares ($42 million) and Canopy Growth was 5.1 million shares ($198 million). TGOD traded 5.7 million shares ($37 million)
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