Image Source: DepositPhotosFor the trading week ended April 26, 2024, my proprietary Canadian Cannabis Company Index (MCCCI) decreased 2.1% compared to the prior week when it decreased 4.0%. The index consists of 14 stocks, many of which are among the most widely held holdings of the 3 ETFs (MJ, CNBS, and THCX) that I consider to be a reliable barometer of the Canadian cannabis sector. MCCCI’s differentiated business model is both weighted and market capitalization-based because I believe that this approach best represents the current landscape of the Canadian cannabis sector. Now let us look at this week’s good, bad, and ugly stocks, shall we? The Good There were no stocks that increased by more than 10%, which is my metric for inclusion in this category: The BadThere were no stocks that decreased by more than 10% (but less than 20%) which is my metric for inclusion in this category. The Ugly There were no stocks that decreased by 20% or more, which is my metric for inclusion in this category: Valuation Metric Review There was a 1.4 % increase in the “Big 4” (3 of which increased) compared to the prior week when there was a 4.2% decrease. Cronus Group Inc. (CRON) was the “biggest gainer” in the MCCCI and increased 9.7%. Recap There was a 1.4% increase in the relative strength index compared to the prior week when there was a 4.1% decrease. 6 of the 14 MCCCI stocks increased, many only minimally. In my view, the prevailing “all quiet along the Potomac” environment is likely to continue until issues related to rescheduling are resolved. And for the record, I believe this anticipated event has been hyped a tad too much. Let us see how this volatile sector has performed at the same time next week, shall we?More By This Author:The Canadian Cannabis Report – Monday, April 22
The Canadian Cannabis Report – Monday, April 15
The Canadian Cannabis Report – Monday, April 8
