Green Shoots at Last?

Hilary Kramer

Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street.

It looks like the lingering buzz around GrowGeneration Corp. (NASDAQ:GRWG) is brightening the mood in the broader cannabis group. If this is the start of a larger bull trend, we’re in for some fun.

Right now, of course, the change is very subtle. Last week saw a net $530 million flow out of cannabis stocks despite GRWG and its enormous post-earnings surge.

This week, we’ve seen $11 million flow back into the group. It isn’t much at all, but at least we’re finally moving in the right direction.

And this wave of gains is much more balanced than what we saw right after GRWG sucked all the air out of the industry.

My favorite of the big cannabis distributors, Aphria Inc. (NASDAQ:APHA), leads the way with a 5.8% gain this week. It is narrowly ahead of Canopy Growth Corp. (NYSE:CGC) and Aurora Cannabis Inc. (NYSE:ACB).

I’d rather see three giants move fast on the road to recovery than a single once-obscure stock double in value. This is how big tides turn on Wall Street. You know I’ll be watching.

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