Marijuana Stock Movers For December 21, 2023
Portfolio Pulse from Benzinga Insights
On December 21, 2023, several marijuana stocks experienced significant price movements. Notable gainers included Blueberries Medical, iAnthus Capital Holdings, and Heritage Cannabis Holding, with increases of 15.05%, 14.44%, and 12.73% respectively. Emeren Group, Corbus Pharmaceuticals, and Scotts Miracle Gro also saw their shares rise. Conversely, MJ Holdings, Khiron Life Sciences, and Item 9 Labs were among the biggest losers, with MJ Holdings dropping 30.41%. Other notable declines were observed in Eastside Distilling, Genetic Technologies, Canopy Growth, and Cresco Labs.
December 21, 2023 | 9:30 pm
News sentiment analysis
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NEGATIVE IMPACT
Canopy Growth (NASDAQ:CGC) shares closed down 6.88% at $4.47, showing a negative trend for the stock.
The decrease in Canopy Growth's stock price could be indicative of market skepticism, potentially leading to further short-term depreciation.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Eastside Distilling (NASDAQ:EAST) shares closed down 12.27% at $1.08, marking a significant drop.
The sharp decline in Eastside Distilling's stock price could lead to negative sentiment among investors, possibly resulting in continued short-term downward pressure.
CONFIDENCE 90
IMPORTANCE 65
RELEVANCE 80
NEGATIVE IMPACT
Genetic Technologies (NASDAQ:GENE) shares closed down 7.92% at $2.35, indicating a bearish market response.
The drop in Genetic Technologies' share price may reflect investor concerns, which could lead to further short-term declines.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
Urban-gro (NASDAQ:UGRO) shares closed down 3.42% at $1.13, experiencing a downturn in its stock value.
The decline in Urban-gro's share price suggests a less favorable view from investors, which may continue to affect the stock in the short term.
CONFIDENCE 85
IMPORTANCE 55
RELEVANCE 70
POSITIVE IMPACT
Corbus Pharmaceuticals (NASDAQ:CRBP) shares closed up 9.62% at $5.70, showing a notable increase in stock price.
The substantial rise in Corbus Pharmaceuticals' stock price could attract more attention from investors, potentially leading to further short-term gains.
CONFIDENCE 90
IMPORTANCE 65
RELEVANCE 80
POSITIVE IMPACT
Scotts Miracle Gro (NYSE:SMG) shares closed up 4.26% at $64.31, reflecting a positive day for the stock.
The increase in Scotts Miracle Gro's share price could indicate a favorable outlook among investors, potentially leading to further short-term appreciation.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Emeren Group (NYSE:SOL) shares closed up 11.88% at $2.92, indicating a strong performance on December 21, 2023.
The significant increase in Emeren Group's share price suggests positive investor sentiment and could lead to continued short-term bullish behavior.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80