Canadian Cannabis Stocks Rebounded This Week

The Canadian Pure-Play Pot Stocks Index rebounded by 2.8% this week after having gone DOWN by 2.8% the previous week  with all 5 of the constituents advancing and is now UP 21.8% since the end of June albeit still DOWN 50.0% YTD.  

The Canadian Pure-Play Pot Stocks Index consists of the 5 largest vertically integrated (i.e. seed-to-sale) Licensed Producers (LPs) with market capitalizations of $300M or more whose stocks trade for US$1/share or more and trade on one or more of the Canadian and/or American stock exchanges.

Below are the performances of its constituents for this past week, in descending order, and since the end of June. Go here for the latest in analysis and commentary on each of the companies,

  1. Canopy Growth (CGC): UP 34.7% since the end of June; still DOWN 56.0% YTD
  2. Tilray (TLRY): UP 22.8% since the end of June; still DOWN 45.5% YTD
  3. Organigram (OGI): UP 18.5% since the end of June; still DOWN 37.7% YTD
  4. Aurora (ACB): UP 16.7% since the end of June; still DOWN 71.5% YTD
  5. Cronos (CRON): UP 11.0% since the end of June; still DOWN 20.2% YTD

In total, the munKNEE Canadian Pot Stocks Index went UP 2.8% this week, has gone UP 21.8% since the end of June and is noe "only" DOWN 50.0% YTD.

If you are interested in investing in the Canadian LP category then consider doing so in a cannabis ETF with the largest percentage of such as the Global X Cannabis ETF (POTX). Read my recent article on marijuana ETFs here.

If you are adventuresome then consider investing in one of the following leveraged (inverse or bull) ETFs:

  1. ETFMG 2x Daily Inverse Alternative Harvest ETF (MJIN)
  2. ETFMG 2x Daily Bull Alternative Harvest ETF (MJXL)
  3. BetaPro 2x Inverse Canadian Marijuana Companies ETF (HMJI)
  4. Horizons 2x Bull Marijuana Companies ETF (HMJU)

An "inverse" ETF is the way to go if you think the cannabis sector is going to decline considerably in the months ahead while a 'bull" ETF is for those that think the sector is going to advance. Personally, I think the marijuana market has nowhere to go but up, having declined 50% YTD - and having declined 91.4% from its peak in February 2021. That is not a recommendation, so do your own research before taking a position.

More By This Author:

Largest Psychedelic Compound-Based Drug Stocks On A Roll - Up 50% Since End Of June
How The 5 Cannabis Categories Performed Last Week: A Comparison
Upward Trend In American Cannabis Stocks Stalled Last Week

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