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For the trading week that ended February 2, 2024, my proprietary Canadian Cannabis Company Index (MCCCI) increased by % compared to the prior week when it decreased by 1.3%.

The index consists of fourteen stocks, many of which are among the most widely held holdings of the 3 ETFs (MJ, CNBS, and THCX) that I consider to be a reliable barometer of the Canadian cannabis sector. MCCCI's differentiated business model is both weighted and market capitalization-based because I believe that this approach best represents the current landscape of the Canadian cannabis sector.

Now let us look at this week’s good, bad, and ugly stocks, shall we?
 

The Good

There were three stocks that increased by more than 10%, which is my metric for inclusion in this category: CBWTF +15.3% OGI +14.0% and TSND. +13.9%. Auxly Cannabis Group Inc. had a volatile 2023, the pattern has continued in 2024. The company has a 15.1M market capitalization and currently trades at $0.01. Enough said.
 

The Bad

There were no stocks that decreased by more than 10% (but less than 20%) which is my metric for inclusion in this category:
 

The Ugly

There were no stocks that decreased by 20% or more, which is my metric for inclusion in this category.
 

Valuation Metric Review

There was a 3.1% increase in the “Big Four” (3 of which increased) compared to the prior week when there was a 1.2% decrease. Cronus Group Inc. (CRON) increased 6.0%.
 

Recap

There was a 5.3% increase in the relative strength index compared to the prior week when there was a 9.5% decrease. Six of the fourteen MCCCI stocks increased, a marked increase for 2024. Many of the gainers were high capitalization stocks, a bullish indicator. Let us see how this volatile sector has performed at the same time next week, shall we?

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The Canadian Cannabis Report - Monday, Jan. 29
The Canadian Cannabis Report - Monday, Jan. 22
The Canadian Cannabis Report- Monday, Jan. 15