Previous close | 0.0700 |
Open | 0.0900 |
Bid | 0.0600 |
Ask | 0.0800 |
Strike | 1.00 |
Expiry date | 2023-12-15 |
Day's range | 0.0600 - 0.0900 |
Contract range | N/A |
Volume | |
Open interest | 3.16k |
Stocks in the cannabis sector have been bid up in recent weeks thanks to some political news surrounding marijuana's legal status in the United States. Aurora Cannabis (NASDAQ: ACB) has been one of them with a 50% gain over the last month. Today, however, Aurora stock is getting hit hard.
All of the biggest public marijuana companies massively underperformed the market over the last 12 months, with nearly all of them losing a lot of their value, and there may not be relief in sight. Canopy Growth (NASDAQ: CGC) is a Canadian cultivator that looks cheap and appears to be exposed to a lot of upside from cannabis legalization in the U.S., but it's a trap. As you can see, Canopy's price-to-sales (P/S) multiple of 1.5 is significantly lower than its peers like Tilray Brands, Curaleaf and Green Thumb Industries.
Quanterix Corporation (QTRX) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.