Largest Canadian Cannabis Stocks Down 4% Last Week; Now Down 47% YTD

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The 5 largest licensed producers (LPs) in our munKNEE Canadian Cannabis LPs Index are ranked below in descending order as to their performances last week and year-to-date (YTD).

1. Tilray (TLRY): UP 1.2% last week; DOWN 37.8% YTD
   • Launched its new canned ready-to-drink, sparkling THC fruit flavored beverages under its premium cannabis lifestyle brand RIFF last week.
   • Current short interest: 11.6% - A high short interest signals that investors have become more bearish and may be getting ready to sell and, as such, that it may be time to liquidate a long position.
2. OrganiGram (OGI): DOWN 2.5% last week; DOWN 50.0% YTD
   • Reported its Q3 last Thursday. Read Organigram Reports Q3FY23 Dismal Returns, Subsequent Positives
3. Aurora (ACB): DOWN 3.6% last week; DOWN 40.4% YTD
   • 9 Canadian pharmaceutical company analysts anticipate that the company will incur a final loss in 2025, before generating positive profits of CA$4.6m in 2026. That amounts to an average annual growth rate of 172% which is extremely buoyant so if the business grows at a slower rate, it will become profitable at a later date than expected.
4. Cronos (CRON): DOWN 5.0% last week; DOWN 24.2% YTD
   •  Is still reviewing a number of unsolicited indications of interest from potential buyers of which one is rumored to the the American MSO, Curaleaf Holdings (CURLF).
5. Canopy Growth (CGC): DOWN 20.8% last week; DOWN 83.3% YTD
   • Acknowledged the successful commencement of trading of TerrAscend Corp. on the Toronto Stock Exchange (as TSND). Canopy USA LLC's has a conditional ownership stake in TerrAscend (TSNDF) of approximately 18%.

Summary

Our Canadian Cannabis LPs Index went DOWN 3.8% last week and is now DOWN 47.3% YTD, as compared to the the 7 constituents in the munKNEE American Cannabis MSOs Index which were DOWN 1.9%, on average, and are now DOWN 10.6% YTD.

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 was DOWN 0.5% last week and is now  DOWN 41.0% YTD.

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