Cannabis Stocks Rally to Close Week on High Note, These 15 Stocks Lead the Way
Investors Are Now Wondering if the Bottom is Finally In
Cannabis investors are seeing green after pot stocks rallied big to close the week on a high note. Cannabis stocks across the board soared on Friday with many closing the day with double-digit gains.
Friday’s price action was a sight for sore eyes as the past six months have not been kind to marijuana investors. Many stocks finished the week on a multi-day run helping lift the sector in one of the best weeks in a while.
The strong week in the market for cannabis stocks have many investors now questioning if the bottom is finally in. With Canopy Growth (TSX: WEED) (NYSE: CGC), Aurora Cannabis (TSX: ACB) (NYSE: ACB) and Cronos Group (TSX: CRON) NASDAQ: CRON) all reporting earnings this month, the stage is officially set for a major reversal if these companies can report strong financials.
Cronos Group will kick off an important earnings season when it reports its Q3 results on November 12. Two days later on November 14, Canopy Growth and Aurora Cannabis will report earnings. Canopy will report its Q2 results before market open and Aurora will report for Q1 after market close.
Mark your calendars now and keep your eyes on these three stocks as their earnings will dictate whether this rally gets extended or turns into a dead cat bounce.
Source: Shutterstock
Now, let’s take a look at this week’s big winners as we countdown the top 15 gainers of the week. These 15 stocks have momentum on its side and should the rebound continue they stand to produce even larger gains over the coming weeks.
15. Cresco Labs (CSE: CL) (OTCQX: CLRBF)
- Monday Open: $8.07
- Weekly High: $8.88
- Gain: +10.04%
Learn more about Cresco Labs: Website | IR Website | Investor Deck | CL Chart
14. Canopy Growth (TSX: WEED) (NYSE: CGC)
- Monday Open: $25.90
- Weekly High: $28.69
- Gain: +10.77%
Learn more about Canopy Growth: Website | IR Website | Investor Deck | WEED Chart
- Monday Open: $21.72
- Weekly High: $24.10
- Gain: +10.96%
Learn more about Tilray: Website | IR Website | Investor Deck | TLRY Chart
12. Trulieve (CSE: TRUL) (OTCQX: TCNNF)
- Monday Open: $13.48
- Weekly High: $15
- Gain: +11.28%
Learn more about Trulieve: Website | IR Website | Investor Deck | TRUL Chart
11. Liberty Health (CSE: LHS) (OTCQX: LHSIF)
- Monday Open: $0.465
- Weekly High: $0.52
- Gain: +11.83%
Learn more about Liberty Health: Website | IR Website | Investor Deck | LHS Chart
10. Village Farms (TSX: VFF) (NASDAQ: VFF)
- Monday Open: $10.49
- Weekly High: $11.79
- Gain: +12.39%
Learn more about Village Farms: Website | IR Website | Investor Deck | VFF Chart
9. Valens GroWorks (TSXV: VGW) (OTCQX: VGWCF)
- Monday Open: $3.00
- Weekly High: $3.40
- Gain: +13.33%
Learn more about Valens GroWorks: Website | IR Website | Investor Deck | VGW Chart
8. HEXO Corp (TSX: HEXO) (NYSE: HEXO)
- Monday Open: $2.80
- Weekly High: $3.18
- Gain: +13.57%
Learn more about HEXO: Website | IR Website | Investor Deck | HEXO Chart
7. Innovative Industrial Properties (NYSE: IIPR)
- Monday Open: $76.10
- Weekly High: $86.57
- Gain: +13.76%
Learn more about IIPR: Website | IR Website | Investor Deck | IIPR Chart
6. Organigram (TSX: OGI) (NASDAQ: OGI)
- Monday Open: $4.37
- Weekly High: $4.99
- Gain: +14.19%
Learn more about Organigram: Website | IR Website | Investor Deck | OGI Chart
5. Auxly Cannabis (TSXV: XLY) (OTCQX: CBWTF)
- Monday Open: $0.67
- Weekly High: $0.77
- Gain: +14.93%
Learn more about Auxly Cannabis: Website | IR Website | Investor Deck | XLY Chart
4. MediPharm Labs (TSX: LABS) (OTCQX: MEDIF)
- Monday Open: $4.67
- Weekly High: $5.47
- Gain: +17.13%
Learn more about MediPharm Labs: Website | IR Website | Investor Deck | LABS Chart
3. Origin House (CSE: OH) (OTCQX: ORHOF)
- Monday Open: $4.33
- Weekly High: $5.20
- Gain: +20.09%
Learn more about Origin House: Website | IR Website | Investor Deck | OH Chart
2. Supreme Cannabis (TSX: FIRE) (OTCQX: SPRWF)
- Monday Open: $0.70
- Weekly High: $0.92
- Gain: +31.43%
Learn more about Supreme Cannabis: Website | IR Website | Investor Deck | FIRE Chart
1. TransCanna (CSE: TCAN) (OTCPK: TCNAF)
- Monday Open: $0.49
- Weekly High: $0.98
- Gain: +100%
Learn more about TransCanna: Website | IR Website | Investor Deck | TCAN Chart
Charts source: Barchart.com
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