Bullish Sentiment Across The Cannabis Space - Check Full Movers For June 5, 2024
Portfolio Pulse from Benzinga Insights
The cannabis sector saw significant movements on June 5, 2024, with notable gainers and losers. Psychemedics (NASDAQ:PMD) and 22nd Century Group (NASDAQ:XXII) were among the gainers, while Genetic Technologies (NASDAQ:GENE) saw a decline.
June 05, 2024 | 8:30 pm
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POSITIVE IMPACT
Psychemedics (NASDAQ:PMD) shares closed up 8.62% at $2.37, indicating strong bullish sentiment in the cannabis sector.
The significant price increase suggests strong investor confidence and positive market sentiment towards Psychemedics.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
22nd Century Group (NASDAQ:XXII) shares closed up 6.25% at $0.83, showing positive momentum in the cannabis market.
The upward movement in share price reflects investor optimism and potential growth in the cannabis sector.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Genetic Technologies (NASDAQ:GENE) shares closed down 5.97% at $1.87, indicating a bearish trend in the cannabis sector.
The decline in share price suggests negative investor sentiment and potential challenges in the cannabis market.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60