Downward Trend In Canadian Cannabis LPs Continued In June

Herb, Hemp, Plant, Cab, Cannabinoid

Image Source: Pixabay


The 5 largest licensed producers (LPs) in our munKNEE Canadian Cannabis LPs Index are ranked below as to their stock performances this week, in June, in May, and YTD:

  1.  Cronos (CRON): UP 9.4% this week; UP 13.1% in June; DOWN 6.4% in May; DOWN 21.4% YTD 
    • current short interest: 0%
    • current price/share: $1.98
  2. Tilray (TLRY): UP 2.6% this week; DOWN 6.6% in June; DOWN 28.9% in May; DOWN 41.6% YTD
    • current short interest: 11.7% - 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.
    • current price/share: $1.56
  3. OrganiGram (OGI): DOWN 2.5% this week; UP 5.4% in June; DOWN 26.0% in May; DOWN 50.0% YTD
    • ​​​​​​​​​​​​​​current short interest: 0%
    • current price/share: $0.39
  4. Aurora (ACB): DOWN 3.6% this week; UP 3.9% in June; DOWN 15.0% in May; DOWN 40.4% YTD
    Canopy Growth (CGC): DOWN 25.0% this week; DOWN 53.6% in June; DOWN 35.4% in May; DOWN 82.8% YTD​​​​​​​

Summary

While the munKNEE Canadian Cannabis LPs Index was UP 0.1% this week; DOWN 5.6% in June; DOWN 22.4% in May and DOWN 46.9% YTD, the 7 constituents in the munKNEE American Cannabis MSOs Index were, on average, unchanged this week; DOWN only 0.9% in June; DOWN 0.9% in May and is DOWN 19.6% 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 4.6% this week; DOWN 8.2% in June; DOWN 11.1% in May and is DOWN 42.7% YTD, in comparison.


More By This Author:

Only 20% Of AI-Related Stocks Are In Bubble Mode
Conservative "Cannabis" Stock Index Flat This Week
Canopy Growth Dragged Down The Canadian Cannabis LPs Index Again This Week

Disclosure: None

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