The closing bell has rung and now it's time to take stock of the day's market action. As measured by the Solactive North American Medical Marijuana Index, cannabis stocks broadly closed down roughly 0.5%. A few stocks from our global marijuana stock database did even worse than the index posting notable losses on the day. In alphabetical order, here are 3 of the biggest marijuana stock losers in trading on Tuesday, August 1st, 2017.
Cara Therapeutics Inc. (NASDAQ:CARA)
Shares of Cara Therapeuticsdropped 6.91% in today's trading session on volume that was lighter than the company's 30-day average volume. This morning, the company announced that they have appointed a new CFO. The fact that this announcement came just two days before the company is set to report earnings put some concern into the markets. Be sure to check out Cara's marijuana stock profile linked above to view custom charts and more recent news.
MassRootsdropped 6.36% today on volume that was lighter than the company's 30-day average volume. Today's selloff came without any recent news from the company. Be sure to check out MassRoots' marijuana stock profile in order to view a custom stock chart and more.
Last but not least, shares of Scotts Miracle-Grofell 2.33% in today's session. Volume was more than double the company's 30-day average volume. This morning, the company released mixed results for their third fiscal quarter. Revenues increased 8% from the third quarter of last year, though sales in their U.S. consumer business came in below expectations. The company's Hawthorne Gardening division was a bright spot in their otherwise mediocre earnings release. Be sure to check out the company's marijuana stock profile linked above to view custom charts and more recent news.
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