Cannabis Stock Movers For January 24, 2024
Portfolio Pulse from Benzinga Insights
Cannabis stocks experienced significant movements on January 24, 2024. Notable gainers included Global Hemp Group, Target Group, and Item 9 Labs, with increases of 68.40%, 47.06%, and 14.29% respectively. Trulieve Cannabis and MJ Holdings also saw gains over 11%. Corbus Pharmaceuticals and Neptune Wellness Solutions were among the NASDAQ-listed gainers. Conversely, MedMen Enterprises and EVIO suffered dramatic losses, closing down 99.99% and 98.00%. Other notable losers included Khiron Life Sciences and Cara Therapeutics. The article was generated by Benzinga's automated content engine and reviewed by an editor.
January 24, 2024 | 9:30 pm
News sentiment analysis
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NEGATIVE IMPACT
Aurora Cannabis shares closed down 4.39% at $0.39, indicating negative market sentiment that could continue to affect the stock price in the short term.
The decline in share price reflects a bearish outlook that may lead to further short-term depreciation.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Cara Therapeutics shares closed down 7.95% at $0.52, which may lead to bearish sentiment and a potential decrease in the short-term stock price.
The drop in share price could cause concern among investors, potentially leading to further short-term declines.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Scotts Miracle Gro shares closed down 3.14% at $57.65, which could suggest a cautious market stance and possible short-term price drop.
The negative performance may lead to continued short-term pessimism among investors.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Tilray Brands shares closed down 3.42% at $1.96, potentially indicating a bearish trend that could impact the stock negatively in the short term.
Investor sentiment appears negative, which may lead to further short-term price declines.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Corbus Pharmaceuticals shares closed up 9.86% at $8.02, indicating a positive market response that could lead to short-term bullish behavior.
The significant gain in share price reflects positive investor sentiment, which may continue to drive the price up in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Eastside Distilling shares closed up 6.47% at $1.15, which could lead to continued investor interest and a potential short-term uptrend.
The positive closing could maintain investor confidence and support a short-term positive price movement.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Neptune Wellness Solutions shares increased by 7.64% to close at $0.51, suggesting a favorable market outlook that could persist in the near term.
The stock's upward movement may attract more investors, potentially leading to further short-term gains.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70