TLRY - Are cannabis stocks good buys amid March cooldown?
Marijuana industry has been on the upswing after Joe Biden was elected as president in November, a Democrat-controlled House and a 50-50 split in the Senate.However, pot stocks have fallen from their February highs, after greater hopes for U.S. legalization.In February, Senate Majority Leader Charles Schumer and Sens. Cory Booker and Ron Wyden signaled they would make cannabis reform a priority this year.The relative strength lines of most marijuana stocks have moved higher since the election. But they have fallen after spiking in February. Also, marijuana stocks got swept up in the Reddit-driven surge.Among the biggest decliners this past week were Aphria (APHA) down 12%, which agreed in December to merge with Tilray (TLRY) -11%.Canopy Growth (CGC) dropped ~5% in the past week with Aurora Cannabis (ACB) sliding ~9%.HEXO (HEXO) also shed 8%; Cronos Group (CRON) fell ~9%.Curaleaf (CURLF) declined 12% in two weeks, while GrowGeneration, an online store for growing supplies, plummeted 31%.KushCo Holdings (KSHB) dipped ~14% and MedMen Enterprises (MMNFF) plunged 29% over
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Are cannabis stocks good buys amid March cooldown?