Image Source: PixabayFor the trading week ended September 27, 2024, my proprietary Canadian Cannabis Company Index MCCCI increased by 1.1%. 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 GoodThere 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 UglyThere were no stocks that decreased by 20% or more, which is my metric for inclusion in this category.Valuation Metric ReviewThere was a 1.1% increase in the “Big 4” (3 of which increased.) The stock-price-based metric increased by 1.9%RecapThere was a 3.6% increase in the relative strength index. 4 of the 14 MCCCI stocks increased, led by Aurora Cannabis Inc. (ACB) which increased by 2.9%. Given the modest performance of all metrics upon which the MCCCI is based, a DEFCON 1 alert remains in effect.Let us see how this volatile sector has performed at the same time next week, shall we?Author’s Note: The 2 week hiatus of the CCR was due to doctor’s orders.More By This Author:The Canadian Cannabis Report – Monday, Sept. 9
The Canadian Cannabis Report – Monday, Sept. 2
The Canadian Cannabis Report – Monday, Aug 26
