Cannabis Stocks Dip: How Rising Interest Rates Impact Your Portfolio

On Friday, cannabis stocks traded lower with the overall market. Marketfy analyst Michael Berger will be monitoring how the sector performs this week.

However, as he mentioned in his subscription product, Benzinga PotProfits (which can be found on marketfy.com), he is not surprised by the market weakness as interest rates continue to rise. In his view, this is a trend that readers should be aware of.

Some stocks to highlight from last week include:

1. Canopy Growth CGC ended the week on a down note and dropped almost 5%. Berger is cautiously following the Canadian cannabis company and will be providing updates on price movements from here.
2. Green Thumb Industries GTBIF edged higher on Friday and Berger plans to add the stock to the mock portfolio this week. He considers the US cannabis company to be a top pick and will provide updates on his strategy as needed.
3. Trulieve Cannabis Corp. TCNNF traded more than 2% lower on Friday and Berger remains on the sidelines with the US cannabis company. He plan to add the stock to the mock portfolio in the near-term and will provide updates on how the stock continues to trend.
4. Curaleaf Holdings CURLF was under pressure with the rest of the cannabis sector and we remain bullish on the US cannabis company. Berger is holding Curaleaf in the mock portfolio and has a long-term bullish outlook on the stock. Stay tuned for updates on his plan to increase his exposure to the US cannabis company.
5. Tilray Brands TLRY continued to trend lower on Friday and dropped almost 4%. The stock is trading below the $1.85 level and Berger will let you know when he thinks it has found a bottom. He is holding a small position in the mock portfolio and plans to add to the position soon. Stay tuned for updates.
6. Innovative Industrial Properties IIPR was under pressure with the rest of the cannabis sector and is trending toward the $70 level. Berger has been planning to add to the position in the mock portfolio if the stock breaks below this level and will be keeping you updated on his strategy.
7. Jazz Pharmaceuticals JAZZ ended the week on a positive note and traded higher while the Nasdaq was under pressure. Berger is closely following the cannabis biotech company and will be providing updates on the trend from here.
8. TILT Holdings TLLTF edged higher on Friday and rallied approx. 2% to close out the week. Berger is closely following the cannabis company and is planning to add to the position in the mock portfolio. Stay tuned for updates on his strategy as needed.
9. CEA Industries CEAD continued to trend to the downside and Berger is monitoring the stock for a bottom. He is cautiously optimistic with the ancillary cannabis company and will provide updates on the trend from here.

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