Shares of cannabis companies were broadly higher on Thursday, putting the sector on track for a third-straight gain, something it hasn’t been able to do in six weeks.
The ETFMG Alternative Harvest exchange-traded fund MJ, +2.51%[1] rose 2.2% in afternoon trade, with 29 of 37 components trading higher. The last time the ETF rose for three straight days was the 5-session win streak ending Sept. 20.
The Horizons Marijuana Life Sciences ETF HMMJ, +1.29%[2] hiked up 1.6%, as 34 of the 48 components traded higher. The ETF had surged 8.8% over the past two sessions.
The ETFMG ETF was now up 18% over the past three months and the Horizons ETF has gained 19%, while the S&P 500 index SPX, +0.76%[3] has slipped 2.9%.
Among the most-active stocks in the sector, with Aurora Cannabis Inc. ACB, +0.28%[4] edged up 0.4%, erasing an earlier loss of as much as 2.9%, after running up 16% over the past two sessions, and Canopy Growth Corp. CGC, +1.13%[5] egained 0.4% after climbing 12% the past two days.
Elsewhere, shares of Cronos Group Inc. CRON, +3.30%[6] climbed 2.7%, Hexo Corp. HYYDF, +4.23%[7] rose 4.1%, Aleafia Health Inc. ALEAF, +4.40%[8] gained 3.0%, Tilray Inc. TLRY, +3.05%[9] tacked on 2.7%, Aphria Inc. APHQF, -1.63%[10] ...