The House passed legislation intending to decriminalize marijuana and expunge nonviolent marijuana-related records. Despite this monumental legislation, it would be dead on arrival in the Senate if Republicans maintain a majority.
Marijuana stocks were mixed after the bill was passed in the House. 15 states in the U.S. have legalized cannabis for recreational use.
Here is a list of the cannabis stocks to watch and their performance this past week by the percentage change at the close of trading on Dec. 4.
Aurora Cannabis Inc | Increased +4.01% | Price $10.89
Aurora Cannabis (ACB) – Get Report shares were rising after the U.N. voted to remove cannabis from its Schedule IV designation, leading to a rally in cannabis stocks.
TheStreet Quant Ratings rates Aurora Cannabis Inc. as a Sell with a rating score of D-.
Arena Pharmaceuticals | Increased +1.75% | Price $67.05
Arena Pharmaceuticals (ARNA) – Get Report announced that its president would speak at the Evercore ISI HealthCONx Conference this week.
TheStreet Quant Ratings rates Arena Pharmaceuticals as a Hold with a rating score of C.
Cronos Group Inc | Increased +1.89% | Price $8.63
Cronos Group (CRON) – Get Report is up 43% since Election Day and the popular cannabis stock pick.
TheStreet Quant Ratings rates Cronos Group as a Sell with a rating score of D.
Tilray Inc | Increased +1.18% | Price $8.60
Shares of Tilray (TLRY) – Get Report climbed Wednesday after the cannabis company said it entered into a co-promotion agreement with Hormosan.
TheStreet Quant Ratings rates Tilray as a Sell with a rating score of D.
Cara Therapeutics | Increased +0.87% | Price $15.08
Cara Therapeutics (CARA) – Get Report reported a loss but beat earnings estimates.
TheStreet Quant Ratings rates Cara Therapeutics as a Sell with a rating score of D.
Canopy Growth Corp | Decreased -1.41% | Price $27.38
Canopy Growth (CGC) – Get Report was rising after the U.N. voted to remove cannabis from its Schedule IV designation, leading to a rally in cannabis stocks.
TheStreet Quant Ratings rates Canopy Growth Corp as a Hold with a rating score of C.
GW Pharma | Increased +6.00% | Price $137.49
GW Pharma (GWPH) – Get Report reported quarterly financial results in early Nov. and shares have been rising ever since.
TheStreet Quant Ratings rates GW Pharma as a Sell with a rating score of D+.