February Momentum Report For The 5 Major Canadian Cannabis LP Stocks

The week-end and year-to-date prices of a company's stock are important to know but even more so is the extent of direction or momentum the stock is experiencing over a specified period of time. This article is an analysis of the number of weeks in February the constituents in the Canadian Cannabis LPs Index went up or down, in descending order, and their stock performances in February, January, and YTD to determine which constituents, if any, are exhibiting positive momentum.

  1. Aurora (ACB): Negative momentum
    • declined in 2 of the 4 weeks of February
    • declined 15.7% in February
    • advanced 14.6% in January
    • declined 3.4% YTD
  2. Tilray (TLRY): Negative momentum
    • declined in 3 of 4 weeks of February
    • declined 12.1% in February
    • advanced 20.2% in January
    • advanced 5.6% YTD
  3. Cronos (CRON): Negative momentum
    • declined in 3 of 4 weeks of February
    • declined 15.7% in February
    • declined 1.2% in January
    • declined 16.7% YTD
  4. Canopy Growth (CGC): Negative momentum
    • declined in 3 of 4 weeks of February
    • declined 20.5% in February
    • declined 29.1% in January
    • advanced 2.6% YTD
  5. OrganiGram (OGI): Negative momentum
    • declined in all 4 weeks of February
    • declined 18.5% in February
    • advanced 17.9% in January
    • declined 3.8% YTD

In summary, all 5 of the largest Canadian Cannabis LPs:

  • experienced considerable weekly volatility in February resulting in negative momentum for the month;
  • declined in February, averaging -16.2%;
  • advanced in January, averaging +15.8%;
  • declined YTD, averaging -3.0%.

In conclusion, the above analysis emphasizes the volatility of the category and finds that none of the constituents are exhibiting positive momentum.

More By This Author:

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For more information on Momentum Investing you are encouraged to read The 6 Most Useful Momentum Indicators ...

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