Canopy Growth Continues To Drag Down Canadian Cannabis LPs Index

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Back on June 6th Canopy Growth was removed from Canada's S&P/TSX Composite Index, causing its stock to drop a whopping 19.0% (see here), and it dropped a further 7% this week.

The 5 largest licensed producers (LPs), as tracked in our munKNEE Canadian Cannabis LPs Index, are ranked below, in descending order, as to their stock performances the week ending (w/e) June 16th, in descending order, and so far in June (MTD):

1. Cronos (CRON): UP 2.4% w/e June 16th; UP 2.3% MTD
2. OrganiGram (OGI): UP 2.3% w/e June 16th; UP 18.9% MTD
3. Aurora (ACB): UP 1.9% w/e June 16th; UP 5.9% MTD
4. Tilray (TLRY): DOWN 1.9% w/e June 16th; DOWN 6.6% MTD
5. Canopy Growth (CGC): DOWN 7.4% w/e June 16th; DOWN 25.0% MTD

Summary

The munKNEE Canadian Cannabis LPs Index was DOWN 0.4% w/e ending June 16th, and is DOWN 12.8% MTD, the 7 constituents in the munKNEE American Cannabis MSOs Index were DOWN 0.6% w/e June 16th and are DOWN 1.9% MTD.

In comparison, the Global X Cannabis ETF (POTX) consists of the above 5 highlighted Canadian stocks plus another 12 cannabis or cannabis-related (i.e. auxiliary) stocks. It is UP 1.7% w/e June 16th and is DOWN 2.2% MTD.

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