Source: Benzinga Feeds
What a week for cannabis stocks! Finally rebounding, ETFs inched alongside many big companies in the industry. Over the last five trading days: The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF ) (TSE:HMMJ) was up 19.11% The ETFMG Alternative Harvest ETF (NYSE: MJ ) gained 13.87% The AdvisorShares Pure Cannabis ETF (NYSE: YOLO ) surged 13.01% The Cannabis ETF (NYSE: THCX ) advanced 16.9% The Amplify Seymour Cannabis ETF (NYSE: CNBS ) inched up 14.8% The SPDR S&P 500 ETF Trust (NYSE: SPY ) closed the period up 1.87% “Cannabis stocks seem to be slowly inching their way out of the bear market they’ve been in,” commented Debra Borchardt, CEO of Green Market Report. “We’re seeing companies make adjustments to cultivation plans, restructuring debt and merge for strength as markets open more slowly than planned. Improvements in valuations are sure to ease the concerns of many investors.” Among top corporate news this week were: TerrAscend Corp. (CSE: TER) (OTC: TRSSF ) completion of a non-brokered private placement with orders reaching a total of around $33.5 million, including the first tranche of the private placement that was completed Dec. 30.