This week’s bounce in pot stocks — the first in at least two months — could be the start of a renewed bullish run, some portfolio managers believe, as investors react favourably to more regulatory clarity on retail stores in Ontario and better-than-expected earnings from some of the major licensed producers.
Over the last four trading days, the Canadian Marijuana Index, which tracks the top 16 Canadian cannabis stocks, rose by almost 20 per cent. Horizons Marijuana Life Sciences Index, another pot ETF under the ticker HMMJ, rose by 17 per cent starting Monday — HMMJ had lost more than 50 per cent of its value through the course of 2019. Taylor’s own fund, was up by about eight per cent this week.
“I’m starting to see a general view out there that a lot of the cannabis stocks are well-priced now. We’ve seen a shake out in the markets generally, but prices have come down and investors are getting more confident that the pricing is right and they can identify companies that have a better balance sheet,” said Jason Wilson, a partner at ETFMG Alternate Harvest , a U.S.-based pot ETF.
“Look, it’s always hard to predict sentiment especially because retail investors are emotional. Overall we are getting a sense that there is more patience from investors, versus pessimism,” Wilson said.Chris Damas, author of The BCMI Report But Chris Damas, a long-time cannabis analyst and author of The BCMI Report believes that the January rally will be short-lived, and stemmed from a combination of stocks being oversold and a tax-loss bounce.
대한민국 최근 뉴스, 대한민국 헤드 라인
Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.
출처: globeandmail - 🏆 5. / 92 더 많은 것을 읽으십시오 »