Cannabis Stock Gainers And Losers From January 23, 2024
Portfolio Pulse from Benzinga Insights
On January 23, 2024, several cannabis stocks experienced significant price movements. MedMen Enterprises led the gainers with a 999900.00% increase, closing at $0.01, while Pharmadrug led the losers with a 25.23% decrease, closing at $0.03. Notable gainers included Cann Gr, Khiron Life Sciences, and Canopy Growth, with increases of 125.92%, 59.09%, and 5.22% respectively. Among the losers, Greenlane Holdings and OrganiGram Holdings saw declines of 5.20% and 3.96%. The article was generated by Benzinga's automated content engine.
January 23, 2024 | 9:30 pm
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NEGATIVE IMPACT
Greenlane Holdings experienced a 5.20% decline to $0.45, potentially indicating negative sentiment that could impact the stock negatively in the short term.
The decline in Greenlane Holdings' stock price could be a sign of negative sentiment or market reaction, which might lead to further short-term downward pressure.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
OrganiGram Holdings saw its shares decrease by 3.96% to $1.82, which could suggest investor caution and might result in a short-term negative impact on the stock.
The drop in OrganiGram Holdings' stock price may reflect investor concerns or a negative market reaction, possibly leading to a short-term bearish trend.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Canopy Growth's shares saw a 5.22% rise to $4.64, which could indicate a positive market sentiment and might lead to a short-term positive trend.
As a well-known cannabis company, the increase in Canopy Growth's stock price could reflect a broader market interest in the sector, potentially leading to a short-term positive trend.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Corbus Pharmaceuticals shares increased by 5.53% to close at $8.02, which may lead to increased investor confidence and a potential uptick in short-term trading volume.
The stock's performance is solid, and the increase could suggest growing investor confidence, possibly leading to more buying activity.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Urban-gro's stock appreciated by 4.61% to $1.59, which may suggest a moderate positive investor reaction and could lead to short-term price stability or growth.
The stock's gain is moderate, which may not lead to significant short-term volatility but could suggest a stable or positive price movement.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
22nd Century Group shares closed up 7.01% at $0.19, indicating a positive market response that could attract investor interest in the short term.
The stock's gain is moderate compared to others on the list, suggesting a positive but not overly significant impact. Investor sentiment may be cautiously optimistic.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50