|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||3.8000 - 4.0000|
|52 Week Range||3.6000 - 7.2000|
|Beta (3Y Monthly)||1.39|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
[Editor's note: This story will be updated each week with new stocks and analysis. Please check back often for Mark's latest take on marijuana penny stocks.]Every investor has dreams of investing a couple thousand dollars into the penny stock company that with become the next Amazon (NASDAQ:AMZN) or Microsoft (NASDAQ:MSFT). Marijuana penny stocks are especially appealing to some of these investors because they understand how much potential this industry has.But you need to be very careful investing in this highly risky sector of the market. Many of these companies will not survive. There is a reason why they are trading as penny stocks.InvestorPlace - Stock Market News, Stock Advice & Trading TipsA few weeks ago I was at the local farmers market and I had an interesting conversation with a farmer. I mentioned that I thought the vegetables that come from the market are significantly better than those that come from the grocery store. He said it was because the vegetables were grown with natural sunlight, while the ones grown in the grocery store were grown indoors or in greenhouses.That made me think about if the same thing applies to growing cannabis. I have done some research, and sure enough there is a trend towards outdoor growing. Investors are starting to understand that in many cases, the cost and quality advantages of growing outside exceed any advantages that can be gained by indoor or greenhouse growing. * 7 Stocks Under $7 to Invest in Now A few of the companies that I have included are in the cannabis outside growing (aka farming) business. In addition, I have also included a few stocks with cool technical patterns.These are not buy recommendations. I just want to give you some insight that may help your investments. Marijuana Penny Stocks: 48North Cannabis (NRTH)48North Cannabis (TSE:NRTH) produces and sells medical cannabis. This a company that I am looking at as a potential investment into outdoor growing. It recently announced that it completed planting its 100-acre outdoor growing facility.Most of the larger growers such as Tilray (NASDAQ:TLRY), Aphria (NYSE:APHA) and Canopy Growth (NYSE:CGC) primarily grow their cannabis either in indoor growing facilities or greenhouses.As mentioned above, there are some advantages to indoor growing. These include things such as better security and the ability to grow yearlong in cold climates. However, some investors are starting to understand that the cost benefits of outdoor growing exceed any benefits that are derived from the other methods.In addition, similar to what the farmer told me, some marijuana consumers believe that cannabis that is grown under natural sunlight is better than that grown inside. If the big companies that are growing indoors do not address this dynamic, it could provide a great opportunity for companies like 48North. Emerald Health Therapeutics (EMHTF)Emerald Health Therapeutics (OTCMKTS:EMHTF) is a Canadian producer of cannabis products.Like 48North, the management of this company is putting some focus on outside growing. It recently announced that it had received it's outdoor cultivation license from Health Canada. The larger Canadian indoor growers have used their influence to slow down the issuance of outdoor licenses. However, as the industry is evolving, they are losing their ability to continue to do so.There are two other things happening here that may be bullish for EMHTF stock. First, it is holding above support around the $1.50 level. This level was where the lows were in December. * 8 Dividend Aristocrat Stocks to Buy Now No Matter What In addition, the company announced the appointment of a new CEO. Riaz Bandali has over 25 years of experience. The appointment of this veteran to run the company could give it an advantage over its competitors that are being managed by those with less experience. KushCo Holdings (KSHB)KushCo Holdings (OTCMKTS:KSHB) produces and sells packaging products for companies that are in the marijuana industry.KSHB stock is approaching the $4.30 level. In June and July, it found support there and sub sequentially rallied. At the end of July, the stock was oversold. If it gets to $4.30 again while being oversold, there is a chance it will rally again.When stocks get to important support levels and become oversold, they tend to rally. If they get to important support and spend time consolidating, they tend to eventually break the level and go lower.What does oversold mean? It is a measurement of momentum. It is where the price is today versus where it was X many days ago. When this number reaches an extreme on the downside, it is considered oversold.For example, statistics tell us the 95% of all trading should be within two standard deviations of the mean. If a stock is more than two standard deviations below the mean, it would be considered oversold. Cannabis Sativa (CBDS)Cannabis Sativa (OTCMKTS:CBDS) researches and develops specialized natural cannabis-related products.Last August, CBDS stock found support around the $2 level. After rallying and then trending lower, it once again found support at this level at the end of April and throughout May.Then the level was broken, and the stock traded lower before recovering. Now $2 is a resistance level. How does this happen? How does a level that was formally support become a resistance level? * 5 Cheap Stocks to Buy Now That the Fed Cut Rates Consider the following. The people who bought the stock at $2 are losing money once it trades lower. They tell themselves that if the stock recovers and gets back to $2, they will sell it so they can get out break even. (Sound familiar?) This concentration of sellers is what creates a resistance level. Green Organic Dutchman Holdings (TGODF)Green Organic Dutchman Holdings (OTCMKTS:TGODF) provides medical cannabis solutions. The downtrend that began in TGODF stock in April seems to have broken.Some people do not understand how profitable the ability to draw and understand trendlines can be. It is obviously an art and not a science, but with some practice and an understanding it will help your trading or investing.In financial markets, prices are always doing one of three things -- going up, going down, or staying the same. If they are going up, the forces of demand are in control of the market. When prices are going lower, the forces of supply are in control. When prices are staying the same, the forces are equal. A popularly drawn trendline should simply be an illustration of these dynamics.We can see here that from a longer-term perspective, the forces of supply have been in control of this market. The downtrend line that I drew has been broken. This could mean that the forces of demand are about to take over and drive the price higher. CannTrust Holdings (CTST)CannTrust Holdings (NYSE:CTST) produces and sells medical cannabis.This company is now known affectionately as Can't Trust. This is because it has recently been accused of growing cannabis in illegal grow rooms that were not licensed. Since then CTST stock has dropped from $5 to $2.Senior management seems to have been well aware that this illicit activity was occurring. We know this because they discussed it in emails which are now in possession of the authorities. When will people ever learn? If you wouldn't want your grandmother to read it, do not put it in an email.My guess is that there are other companies that are engaged in similar illegal activity, and we will soon be hearing about others. * 10 Stocks to Buy on the Trade War Dip Over the past three weeks the stock has found support around the $2 level. Despite this, I can't trust CannTrust to be a safe investment. Until we know more details, I would stay away. CGrowth Capital (CGRA)CGrowth Capital (OTCMKTS:CGRA) is a holding company that is engaged in exploration, mining and commodities.This stock illustrates a valuable lesson. Every stock has a bid and an offer. The bid is the highest price someone will pay for a stock. The offer is the lowest price that someone is willing to sell it at.Now suppose a stocks bid is 1 cent and the offer is 2 cents. If someone sells it, the last trade will be 1 cent. Then suppose 10 minutes later someone else buys it. Now the last trade is 2 cents. The stock price has doubled but it hasn't really moved!CGRA stock illustrates a similar dynamic. Over the past week, the price has nearly doubled in value. It has gone from 45 thousandths to 70 thousandths of 1 cent. Could you have made money on this move? Absolutely not. Commission costs and market impact would have made it impossible. The stock has almost doubled in price but the shareholders haven't benefited.At the time of this writing Mark Putrino did not hold any positions in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Large-Cap Stocks to Sell Right Now * 7 Stocks Under $7 to Invest in Now * 7 Marijuana Stocks With Critical Levels to Watch The post 7 Marijuana Penny Stocks to Consider for Those Who Can Handle Risk appeared first on InvestorPlace.
KushCo Holdings Inc (OTC: KSHB) has announced the creation of a new Retail Services division. Benzinga's Cannabis Capital Conference heads to Detroit on Aug. 15 -- Click here to learn more! “The maturation of the cannabis industry has opened up countless avenues for business development across the industry’s supply chain.
The cannabis sector has been under pressure this year providing an opportunity to enter some attractive sector stocks with catalysts for stock gains in the 2H of 2019. One such company is KushCo (KSHB) that provides ancillary products to the cannabis and hemp sector. The company benefits from sector growth and a major catalyst that should help the biggest risk to the story.Picks and Shovels PlayKushCo provides the vape products, packing, supplies and accessories needed by the major cannabis brands to cultivate, produce and sale cannabis and hemp products. A prime example of the products sold by the company is the recent deal to sell biodegradable packing solutions for the sector through SunGrown.For this reason, KushCo is positioned to benefit from the ultimate growth in the cannabis sector supply and demand growth without risking the creation of brands or products that consumers want inherent in any retail operation. For this reason, the company generated FQ3 revenue that ended May 31 of $41.5 million, up an incredible 221% from last year and 17.9% sequentially.The biggest issue for the company expected to generate up to $250 million in revenues next fiscal year is profit margins. Gross profit doubled from last year, but gross margins only reached 18%. On a non-GAAP basis, gross margins reached 23%.The company has a long way to go before achieving profits with SG&A expenses over $20 million and a meager gross profit of about $9.5 million. The quarter ended with a much-improved adjusted EBITDA loss of $7.5 million, but KushCo only has a cash balance of $12.2 million. A few more quarters of these losses will require more cash to fund growing operations.Nasdaq UplistingThe major catalyst for the stock is a projected uplisting to the Nasdaq. KushCo announced a filing with the major U.S. stock exchange on July 8. Such a listing could allow the company to obtain greater liquidity and likely execute a secondary offering that would provide the cash to fund operations while reducing the current risk of a weak balance sheet.Investors need to understand that an uplisting induced rally would probably be followed by a secondary offering that hits the stock hard similar to the one in January. Of course, other options exist to fund growth including a merger or equity investment that would likely induce a stock rally.The stock has a market cap in the $440 million range. Being a supplier to the large U.S. multi-state operators and the Canadian LPs. is probably one of the best ways to play the growth of the global cannabis market from $10-$15 billion in annual sales to analyst targets in the next decade to the $200+ billion range.KushCo doesn’t have to worry which MSO or LP generates the most growth, the company just has to play the sector trend and focus on providing the best products for both cannabis and hemp products.TakeawayThe key investor takeaway is that KushCo provides a unique way to play ultimate cannabis and hemp sector growth. The company is supplying the industry with innovative new products such as biodegradable packaging.An uplisting to the Nasdaq should provide a major catalyst for the stock along with an avenue to eliminate the risk: funding. The stock is a risky buy below $5, but cannabis industry stocks trading for less than 2x forward sales are hard to find. For risk adverse investors, the best way to own KushCo is to just wait for another fundraising and pick up the stock on any weakness.Disclosure: No position.Read more: Kushco Holdings (KSHB) Is Cheap, but There’s a Reason for That More recent articles from Smarter Analyst: * Facebook (FB) Adds Privacy Tool; Top Analyst Remains a Bull on the Stock * Marijuana Stock Supreme Cannabis Is Ready to Spark Higher * Is the Surge in Nvidia (NVDA) Stock Sustainable? Merrill Lynch Sees Further Upside Ahead * Qualcomm (QCOM) Stock Has Limited Upside, Says UBS
Both small hemp stocks like Isodiol and major cannabis players like Canopy Growth have rolled over in recent weeks, but there are signs of exhaustion by sellers. That's according to the latest report from All Star Charts Institutional, which relies on technical analysis. "Marijuana Stocks have been a mess for a long time and are […]
GrowGeneration Corp. shares rallied Wednesday to mark a rare splash of green in a falling cannabis sector that is still under pressure from the revelations of illegal activity at CannTrust Holdings Inc.
Despite the revenue growth, the company's net loss on a GAAP basis slightly widened from $9.2 million a year ago to $10.6 million. "Our customer base is gaining strength with the largest multistate operators and Canadian LP's starting to scale in existing markets, while also preparing for growth in new emerging geographies — including recently approved Illinois," he said.
KushCo Holdings, Inc. (OTC: KSHB ), a producer of ancillary products and services to the cannabis and hemp industries, said Monday that it's applied to list on the Nasdaq Global Select Market exchange. ...
Are you ready for earnings season? We are now heading into a critical period for investors as companies publish their second quarter earnings results and guidance updates. And with stocks at record levels, any disappointment in the data could send prices plummeting. But there are several stocks still primed to outperform. Here we turned to TipRanks’ Earnings Calendar to see which stocks reporting this week have a bullish outlook according to top analysts. Indeed, all three stocks covered below have a ‘Strong Buy’ Street consensus. That’s based on all the ratings received by the stock over the last three months. Let’s take a closer look now: Levi Strauss & Co. (LEVI)Jeans giant Levi is now gearing up for its earnings report on July 9. Investors are keeping a close eye on the event given that the company only just made its market debut in March. That means this is only the company’s second earnings report since it went public. Luckily the signs are positive that the event will prove a success- especially as the Q1 earnings revealed strong broad-based growth. Indeed, the company even sailed into profit-making territory with earnings of $0.37 per share, up from a loss of $0.5 per share a year ago.“We are BUY-rated on LEVI with a $26 PT and remain comfortable with our forecasts ahead of next week's 2Q report” cheers five-star Guggenheim analyst Robert Drbul. In a note aptly titled ‘Levi- 501 reasons to buy the stock’, the analyst set out his expectations for around 4% revenue growth in the quarter to $1.294 billion. That’s alongside 2Q/FY19 EPS estimates of $0.13/$1.07 in-line with consensus. “We believe upside potential to these forecasts is achievable this year, as Levi continues to engage in brand-building partnerships/collabs to drive brand heat” he contends.And looking out past the coming earnings report, Drbul maintains his optimistic tone. “While Levi's already enjoys the highest brand awareness in Denim Bottoms, globally, we believe expansion in underdeveloped segments, including Women’s and Tops, DTC, and markets like China, provide a long runway for growth ahead.” Overall, 3 out of 4 best-performing analysts covering LEVI rate the stock a ‘Buy.’ Their $25.50 average analyst price target translates into 15% upside potential for shares.View Levi Price Target & Analyst Ratings Detail KushCo Holdings Inc (KSHB)Cannabis stock and vape specialist KushCo Holdings is also set to release its earnings report on July 11. And as we can see below, all five analysts rate KSHB a buy ahead of the print. That means the stock has received no hold or sell ratings in the last three months. Plus its $7.90 average analyst price target indicates the stock has significant room to grow with 60% upside potential from current levels.Canaccord Genuity analyst Robert Burleson, for example, has a ‘Speculative Buy’ rating on the stock with a $7.50 price target. That’s in contrast to its current price of just $4.94. Following a positive company management meeting, Burleson told investors: “Vape hardware demand continues unabated, evidenced by recent data from BDS Analytics showing vape’s increasing share of retail sales in [recreational use] markets, somewhat to the detriment of flower [or, dry cannabis] sales… As such, we believe KSHB’s revenue mix from vape hardware is likely to remain elevated.”Similarly Roth Capital’s Scott Fortune sees shares surging to $8. According to Fortune, KSHB is leading the way when it comes to cannabis ancillary products and services- which puts KushCo in prime position to benefit from a rapidly growing legal cannabis industry. The best part is that the analyst sees a slew of catalysts ahead including securing large cannabis operators in key legal (CA) and new states.He is also anticipating “deepening customer relationships, cross-selling opportunity as the one-stop-shop, cannabis-derivative growth, expansion into Canada, potential acquisition take out, and an upcoming uplisting.”View KSHB Price Target & Analyst Ratings Detail Delta Air Lines, Inc. (DAL)US global airline Delta is also fast approaching its earnings results release on Thursday, July 11\. Ahead of the print the mood is upbeat following an encouraging earnings guidance update from Delta on July 2. “Delta expects to produce a strong June quarter with top-line growth, margin expansion and over $1.5 billion of free cash flow” the company told investors. For the quarter, Delta expects earnings per share of $2.25 to $2.35 and revenue growth of 8% to 8.5%, at the high-end of initial guidance provided in April. What’s more, DAL also returned ~$500 million to shareholders through dividends and share repurchases in the quarter. Stifel analyst Joseph DeNardi called the predicted numbers "strong across the board," noting that DAL is one of the biggest beneficiaries of the fact that the grounding of Boeing's (BA) MAX fleet is constraining industry growth. He has a Street-high price target of $90 on the stock (53% upside potential). Bear in mind that shares are already up 18% year-to-date.The news also prompted Stephens’ Jack Atkins to write that: “DAL's IR update yesterday highlights a Domestic passenger airline market that is solidly outperforming the doom and gloom expectations that many had at the start of the year.” As a result Atkins resumed coverage of DAL with a Buy rating and $70 target price (up from $68 previously). The analyst sums up his bullish investing thesis on the stock here: “With fare momentum from both the underlying market and its own revenue initiatives, costs firmly under control and a multi-year tailwind from the recently extended co-branded credit card agreement, we continue to believe DAL is very well positioned to drive shareholder value as it continues to find ways to elevate (and monetize) the customer experience."In total, 8 out of 9 analysts polled rate the stock a 'Buy.' With an average analyst price target of $70, analysts see (on average) 19% upside potential for the months ahead.View DAL Price Target & Analyst Ratings DetailGo to TipRanks' Earnings Calendar for further investing inspiration
KushCo Holdings, Inc. (OTCQX: KSHB) now wants to provide its CBD clients with access to large-scale retail channels, and is doing so by partnering with the full-service consumer products agency C.A. Fortune. KushCo will bring its network of brands and hemp industry know-how to the partnership, while C.A. Fortune, a business in operation since 1977, will provide the access to large-scale mainstream retail channels to KushCo clients. Jason Vegotsky, KushCo's President and Chief Revenue Officer, acknowledged the challenge CBD brands face when trying to get mainstream mass distribution.
KushCo Holdings Inc (OTC: KSHB ) said Thursday it will develop a new distribution facility in Taylor, Michigan in order to support its operations in the Midwest. The 40,000 square-foot facility will serve ...
On June 25, KushCo Holdings (KSHB) rose ~5%. So far, the stock has delivered a positive return in June. KushCo Holdings has gained as much as 4.2%.
Prior low-level convictions for marijuana possession will be pardoned. Amid this news, one would expect marijuana stocks to run higher, but that’s not happening. Just like a doctor does X-rays to see what is going on inside the human body, investors can do an X-ray of marijuana stocks to figure out what is really going on.
Innovative Industrial Properties' forward EV-to-sales multiple increased to 20.8x in June. The stock was trading at a significant premium to the peer median of 5.8x.
The ancillary marijuana companies are growing as more states legalize the use of cannabis for either medicinal or recreational purposes. Many companies involved in the marijuana industry never touch the plant. "As the medical marijuana market turns over to adult use, there will be more packaging and cultivation required and that is going to foster more demand for ancillary products like lighting, soil and packaging," says Brett Hundley, a senior equity research analyst at investment bank Seaport Global Holdings.
KushCo Holdings (KSHB) has been growing revenue at a rapid pace, but on the operational side of its business it has faltered in several areas, giving many investors pause as to whether to take a position in the cannabis packaging and branded packaging company.The company is an attractive picks-and-shovel play because it helps marijuana firms comply with the stringent regulations on the packaging side of the business.With the strong demand KushCo's revenue soared to $52 million for all of fiscal 2018, an increase of 177 percent. In the latest quarter it generated sales of $25 million, up 186 percent year-over-year. For all of fiscal 2019, management has guided for sales to double again.It would be expected that KushCo would be considered a terrific growth story, and one that should continue on for years as the cannabis industry should continue to grow for many years. But that's not the case.Where it fumbled the ballThere are three major areas KushCo has failed to deliver on, two of which resulted in it taking a significant hit to its reputation. The two are the accounting debacle that resulted in it having to restate its financials for 2017 and 2018, and its failure to properly prepare for the very visible increase in demand coming from the legalization of recreational pot in Canada, and the trend toward individual states in America to legalize recreational pot as well.The last negative catalyst was its inability to stop the decline in its margin, part of which wasn't its fault, and part of which it was.Concerning the accounting debacle, that was definitely the fault of the company, as it failed to hire a CFO for that sole purpose, instead opting to have it be combined with the office of the COO. This became an issue when the company made acquisitions that weren't properly handled in order to be in compliance with Sarbanes-Oxley. That appears to have been taken care of, but to allow that to happen in the first place doesn't place a positive light on the Board or the management team.While it was a blow to its reputation, it was also something that has to be solved in order to make the company's financials compliant with Sarbanes-Oxley in order to have its shares listed on a major market in the future. This has likely delayed the process.Lack of preparation for growing demandAnother major issue with the company was it not being prepared for the obvious surge in North American cannabis demand. This was part of the problem in Canada, where shortage of packaging was blamed on KushCo. It wasn't the only reason for the embarrassment to the Canadian government, which deserves a portion of the blame as well, but it in fact did play a part in the shortage.Not being ready for the demand onslaught resulted in supply shortages. But it also forced the company to employ more costly means of delivery in order to get the packaging to dispensaries quicker, once it was manufactured. That resulted in further downward pressure on already low margins.With plenty of time to prepare for the obvious coming demand, this is probably the thing that concerns and disappoints me the most. It's baffling as to how the company wouldn't have contingencies in place in case of demand exceeding expectations, including enough inventory to support that demand.When combined with the disaster surrounding the accounting failure, it does make the management look like its over its head.Margin challengesThere are a couple of things related to margins that provide an answer as to why they haven't been able to improve in that area for some time. The one thing out of the company's control are the tariffs; particularly those that have an impact on the vapes it imports from China. It has applied for relief for some of the tariffs, and believes it has a chance of getting some of them taken off.Management also said it's going to pass on at least some of the tariff costs onto its customers. With demand so high at this time, I don't think that will have an adverse impact on its results.The other major part of its low margin was self-inflicted, again, related to having to use more expensive means of delivery in order to meet supply demands. The combination of tariffs and expensive delivery costs may be behind the company, and that means it could reach the approximate 20 percent margin management guides for. Interestingly, that's still less than the 34.8 percent it enjoyed just a year ago.Another expense associated with being unprepared for demand was the need to invest in new facilities to meet demand. These three things resulted in gross profit margin plummeting to 12.8 percent in the quarter, against the 34.8 percent mentioned above.The question going forward is how much of its margin it'll be able to recoup by passing on tariff costs onto customers, lower delivery costs, and presumably much of its investment in additional facilities being largely completed. With growth in the sector having no end in sight at this time, I think the company will still have to invest in additional facilities so it won't repeat what happened this time around.My biggest concern is even if it is able to boost margins to 20 percent, is what happened to the other 14 percent it generated last year. It appears this may be something associated with its business model in relationship to growth. It also looks like scale, which could help the company increase margins above the 20 percent guidance, is probably not enough to return it to past margin performance.ConclusionKushco may look dismal after what I mentioned above, but the reality is it does have some good things going for it, including the long-term revenue growth prospects from the burgeoning cannabis industry.It also has a diverse customer base where it doesn't rely on any one company for over 10 percent of its sales. It serves over 5,000 marijuana companies, providing it with reduced risk when there is some customer churn.Since it has more than 5,000 customers, it points to the fact its product is in compliance with standards in different markets, and is a source of choice for many companies.Of course it must execute on the supply side to meet demand, or it could find itself losing customers in droves if they can't packaging and packaged branding that allows them to generate sales. Hopefully the company is dealing with that issue in a permanent way.On the revenue side, I don't see it slowing down in the near future, as it estimates sales should jump to as high as $243 million by the end of 2020. If it's able to sustainably improve margin, it could result in the company becoming profitable by the end of the year, as management has stated is highly probable.The company is cheap, but there's a reason for that. But if it is able to surprise in any way in the quarters ahead, it could get a significant boost in its share price, and if it executes in a way that convinces investors its performance is sustainable, it could move up quickly in value.Last, management can not afford to make any of the operational mistakes it already has. If it does in any way, the company will struggle to recover in my view. That would almost certainly mean a change in management and the company taking a lot longer to reward shareholders.As the company stands, it may be good for an occasional trade, but taking a position and holding is very risky. KushCo must prove it can execute and deliver on its promises before the market will jump back in.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. More recent articles from Smarter Analyst: * Facebook (FB) Adds Privacy Tool; Top Analyst Remains a Bull on the Stock * Marijuana Stock Supreme Cannabis Is Ready to Spark Higher * Is the Surge in Nvidia (NVDA) Stock Sustainable? Merrill Lynch Sees Further Upside Ahead * Qualcomm (QCOM) Stock Has Limited Upside, Says UBS
Just how high can CBD sales climb? That's the key question facing companies and regulators as cannabis goes mainstream.
Cannabis stocks were mostly lower Monday, as investors digested the first reports from Friday’s regulatory hearing on cannabis and its ingredients and the news that Illinois is legalizing weed for adult recreational use.
Aphria Inc. shares soared about 9% Friday to lead the cannabis sector, after Jefferies started coverage of the stock with a buy rating.
Cannabis Stocks Fell despite Biden's Support of LegalizationA weak startThe overall cannabis sector was off to a weak start this week. The weakness was reflected in the Horizons Marijuana Life Sciences ETF (HMMJ), which sank by nearly 1.4%, and the