Cannabis Stocks Dip: How Rising Interest Rates Impact Your Portfolio
Portfolio Pulse from Javier Hasse
Cannabis stocks traded lower on Friday, a trend analyst Michael Berger attributes to rising interest rates. Stocks highlighted include Canopy Growth (CGC), Green Thumb Industries (GTBIF), Trulieve Cannabis Corp. (TCNNF), Curaleaf Holdings (CURLF), Tilray Brands (TLRY), Innovative Industrial Properties (IIPR), Jazz Pharmaceuticals (JAZZ), TILT Holdings (TLLTF), and CEA Industries (CEAD). Berger plans to add GTBIF, TCNNF, and TLLTF to his mock portfolio, and is monitoring the rest for potential investment opportunities.
October 23, 2023 | 4:19 pm
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NEGATIVE IMPACT
CEA Industries continued to trend to the downside. Analyst Michael Berger is monitoring the stock for a potential bottom.
The stock's continued downward trend suggests a negative short-term impact. The analyst's monitoring suggests uncertainty about the immediate future.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Canopy Growth's stock dropped almost 5% last week. Analyst Michael Berger is cautiously following the company.
The stock dropped significantly last week, indicating a negative short-term impact. The analyst's cautious stance suggests uncertainty about the company's immediate future.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tilray Brands continued to trend lower on Friday. Analyst Michael Berger is monitoring the stock for a potential bottom.
The stock's continued downward trend suggests a negative short-term impact. The analyst's monitoring suggests uncertainty about the immediate future.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Curaleaf Holdings was under pressure with the rest of the cannabis sector. Analyst Michael Berger remains bullish on the stock.
Despite the pressure on the stock, the analyst's bullish stance suggests a positive outlook in the long-term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Innovative Industrial Properties was under pressure with the rest of the cannabis sector. Analyst Michael Berger plans to add to the position if the stock breaks below $70.
Despite the pressure on the stock, the analyst's plan to add to the position if it breaks below a certain level suggests a positive outlook in the near-term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Trulieve Cannabis Corp. traded more than 2% lower on Friday. Analyst Michael Berger plans to add the stock to his mock portfolio in the near-term.
Despite the recent drop, the analyst's plan to add the stock to his portfolio suggests a positive outlook in the near-term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Green Thumb Industries edged higher on Friday. Analyst Michael Berger plans to add the stock to his mock portfolio.
The stock edged higher despite the overall market trend, and the analyst's plan to add it to his portfolio suggests a positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Jazz Pharmaceuticals ended the week on a positive note. Analyst Michael Berger is closely following the company.
The stock ended the week positively, indicating a positive short-term impact. The analyst's close following suggests a positive outlook.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
TILT Holdings edged higher on Friday. Analyst Michael Berger plans to add to the position in his mock portfolio.
The stock edged higher despite the overall market trend, and the analyst's plan to add it to his portfolio suggests a positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90