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The Zacks Analyst Blog Highlights: Tilray, Canopy Growth, Cronos and ETFMG Alternative Harvest

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For Immediate Release

Chicago, IL – November 8, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Tilray (TLRY - Free Report) , Canopy Growth (CGC - Free Report) , Cronos (CRON - Free Report) and ETFMG Alternative Harvest ETF (MJ - Free Report) .

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Here are highlights from Wednesday’s Analyst Blog:

Why Marijuana Stocks, ETF Soared on Wednesday

Pot stocks and ETF are soaring today thanks to optimism generated by Jeff Sessions’ resignation and passing of marijuana legalization by three more states. Michigan voters approved a ballot measure that would allow recreational use of marijuana while Missouri and Utah passed initiatives to legalize medical use of marijuana. (Will Cannabis ETFs be on a High Again?)

Tilray jumped more than 30% today, while Canopy Growth and Cronos were up more than 8%. The ETFMG Alternative Harvest ETF— the first and only US listed pot ETF — surged 7% today.

Sessions was seen as one of the biggest opponents of marijuana in the Trump administration. While Obama-era policy allowed pot legalization by states by following a hands-off approach, Sessions’ opposition had created a lot of uncertainty for cannabis businesses.

Banks usually follow federal guidelines that treat any transactions involving marijuana as money laundering. Thus, banks in general were reluctant to service cannabis businesses. (Pot Stocks & ETF: Risks and Rewards)

The defeat of Pete Sessions, the Texas Republican who according to CNBC.com blocked marijuana legislation several times while he was chairman of the House Rules Committee, also boosted the sentiment for pot stocks. Further, a Democrat controlled House would be much more supportive for the cannabis industry.

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About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.




In-Depth Zacks Research for the Tickers Above


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Canopy Growth Corporation (CGC) - free report >>

Cronos Group Inc. (CRON) - free report >>

Tilray, Inc. (TLRY) - free report >>

ETFMG-ALT HRVST (MJ) - free report >>

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