Bearish Sentiment Across The Cannabis Space - Check Full Movers For June 6, 2024
Portfolio Pulse from Benzinga Insights
The cannabis sector experienced significant volatility on June 6, 2024, with notable gainers and losers. Key gainers included MJ Holdings, Global Hemp Group, and Greenlane Holdings, while major losers included MPX International, Elixinol Wellness, and Cara Therapeutics.
June 06, 2024 | 8:30 pm
News sentiment analysis
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POSITIVE IMPACT
Eastside Distilling shares closed up 3.60% at $1.00, indicating a slight positive movement.
The slight increase in Eastside Distilling's stock price suggests a modest positive movement in the market.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Greenlane Holdings shares closed up 7.05% at $0.58, indicating positive sentiment in the cannabis sector.
Greenlane Holdings' stock price increase suggests investor optimism, likely driven by broader positive sentiment in the cannabis sector.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Psychemedics shares closed up 6.33% at $2.43, showing a positive trend in the market.
The rise in Psychemedics' stock price reflects a positive market trend, possibly influenced by overall sector performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Scotts Miracle Gro shares closed up 3.40% at $67.53, reflecting a positive trend.
The increase in Scotts Miracle Gro's stock price reflects a positive trend, likely influenced by broader market conditions.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Urban-gro shares closed up 6.00% at $1.49, reflecting positive investor sentiment.
Urban-gro's stock price increase indicates positive investor sentiment, likely driven by favorable market conditions.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Cara Therapeutics shares closed down 9.37% at $0.64, indicating negative sentiment.
The decline in Cara Therapeutics' stock price suggests negative sentiment, possibly due to sector-specific challenges.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Canopy Growth shares closed down 8.96% at $7.15, reflecting negative market sentiment.
The drop in Canopy Growth's stock price indicates negative market sentiment, likely driven by broader sector challenges.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Genetic Technologies shares closed down 3.74% at $1.77, showing a slight negative trend.
The slight decline in Genetic Technologies' stock price suggests a modest negative trend in the market.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
SNDL shares closed down 3.24% at $2.08, indicating a slight negative movement.
The slight decrease in SNDL's stock price suggests a modest negative movement in the market.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60