Chart of the Day - Monday, September 29, 2025
September 29, 2025
- Pot stocks lit up today, with the Amplify Alternative Harvest ETF ($MJ) surging +26.7%, for its best day since August, when it saw a similar-sized +27% rally. It's now sitting just -4% below a 52-week high, closing at its highest since November.
- As Eric points out, today's surge occurred on the heaviest volume in more than a year. The primary trend remains lower, but $MJ is firmly above a rising 20-day moving average, and the 200-day moving average has curled higher since August.
- Pot stocks remain unloved after years of dismal performance and head-fakes. Yet, the group is exhibiting relative strength with $MJ up +46% YTD, while the broader Health Care sector ($XLV) is down -1.2%.
The Takeaway: Pot stocks exploded higher today, with $MJ gaining +27% on heavy volume. While the group is still broadly out of favor, the trend is stabilizing as $MJ pushes toward new 52-week highs.
