Marijuana stocks bounce back from long losing streak; Aurora Cannabis' stock sees first US-listed gains – MarketWatch

Shares of cannabis companies were broadly higher Thursday, putting the sector on track to snap a long losing streak, with Aurora Cannabis Inc.’s investors finally able to celebrate the stock’s U.S. listing.

The Horizons Marijuana Life Sciences exchange-traded fund HMMJ, +4.13% soared 5.5% in afternoon trade, with 40 of 48 components gaining ground. That put the ETF on track for its first gain in eight sessions, prospectively ending a skid that’s tied for the longest stretch of losses since the fund’s inception in April 2017. The ETF plunged 28% during the losing streak.

The ETFMG Alternative Harvest ETF MJ, +2.67% hiked higher by 4.7%, with 31 of 37 components contributing to gains, and was also on track to snap a seven-day losing streak.

Shares of the most active member of either ETF, Aurora Cannabis Inc. ACB, +3.03% rallied 1.9% as they headed for their first gains since the change in its listing to the NYSE from the OTC Markets failed to inspire investors. The stock had plunged 31% over the previous four sessions.

Earlier Wednesday, the company said it was approved to make its first shipment of medical cannabis to Poland.

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Among other active stocks, Canopy Growth Corp. CGC, +4.53% climbed 6.7%, Cronos Group Inc. CRON, +6.29% ran up 9.8%, 22nd Century Group Inc. XXII, -4.69% fell 3.5% and Tilray Inc. TLRY, -2.32% eased earlier losses to gain 1.9%.

Elsewhere, shares of Green Organic Dutchman Holdings Ltd. TGODF, +6.58% rallied 6.7%, Supreme Cannabis Co. Inc. SPRWF, +2.48% rose 6.8%, Aprhria Inc. APHQF, +9.94% shot up 8.7% and India Globalization Capital Inc.’s stock IGC, -0.38% jumped 1.5%.


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