Downward Trend In Canadian Cannabis LPs Continued In June
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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:
- 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
- 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
- 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
- Aurora (ACB): DOWN 3.6% this week; UP 3.9% in June; DOWN 15.0% in May; DOWN 40.4% YTD
- current short interest: 0%
- current price/share: $0.53
- Read: Aurora Cannabis Reports A Q3 Net Loss Increase Of 30%
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- current short interest: 0%
- current price/share: $0.39
- Read: Canopy Growth Q4 Financial Results Were Dismal
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.
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Canopy Growth Dragged Down The Canadian Cannabis LPs Index Again This Week
Disclosure: None
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