Marijuana Stock Movers For May 7, 2024
Portfolio Pulse from Benzinga Insights
Marijuana stocks experienced significant movements on May 7, 2024, with notable gainers including Kaya Holdings, Elixinol Wellness, and CV Sciences, among others. Conversely, several companies faced declines, such as Target Group, Global Compliance, and SOL Global Investments. Notable NASDAQ and NYSE listed companies like Psychemedics, Urban-gro, cbdMD, Eastside Distilling, Canopy Growth, Tilray Brands, and Scotts Miracle-Gro also saw varied stock performance.
May 07, 2024 | 8:30 pm
News sentiment analysis
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POSITIVE IMPACT
Psychemedics saw its shares increase by 9.84%, closing at $2.53.
The significant increase in Psychemedics' stock price reflects positive investor sentiment, potentially due to favorable market conditions or company-specific news.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Urban-gro's stock price increased by 9.51%, ending the day at $1.82.
Urban-gro's stock price rise indicates a bullish outlook from investors, possibly driven by positive developments within the company or the broader market.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
Canopy Growth's stock declined by 3.60%, closing at $9.48.
The decrease in Canopy Growth's stock price may be due to negative investor sentiment or challenges facing the company, impacting its valuation.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
Eastside Distilling's shares decreased by 4.55%, ending at $1.19.
The drop in Eastside Distilling's stock price suggests investor concerns or negative developments within the company, affecting its market performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
Scotts Miracle-Gro's shares declined by 3.11%, closing at $69.21.
The decline in Scotts Miracle-Gro's stock price could be attributed to negative market trends or specific challenges faced by the company.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
Tilray Brands saw a decrease of 3.41% in its stock price, closing at $1.99.
Tilray Brands' stock price drop reflects potential concerns among investors about the company's performance or the broader market conditions.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
cbdMD shares fell by 5.53%, closing at $0.80.
The decline in cbdMD's stock price could reflect negative market sentiment or adverse company-specific news, impacting investor confidence.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80