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Cannabis Summary for Nov. 21, 2019

2019-11-21 21:26 ET - Market Summary

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The Canadian Securities Exchange Composite Index gained 11.85 points to 431.64 Thursday. American cannabis companies continued to report their third quarter results, but it was the Canadian companies that again grabbed the majority of headlines. They continued their rally, led by Canopy Growth Corp. (WEED), which rose $3.54 to $27.03, while Aurora Cannabis Inc. (ACB) rose 64 cents to $4.14, Aphria Inc. (APHA) rose 60 cents to $6.59 and Cronos Group Inc. (CRON) rose 99 cents to $10.11. While the last few days' gains have been significant, it is important to keep perspective. Canopy has gone from $18.78 to $27.03 since the end of trading on Monday, but it was also trading at over $27 as recently as Nov. 12. It is a similar story for the other three companies mentioned. We are still only about a week removed from many Canadian cannabis companies reporting revenue and earnings' misses, but the boost has nonetheless been welcomed by long-suffering cannabis investors.

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