E The Canadian Cannabis Report - Monday, June 21

TM editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.


For the trading week ended June 18, my proprietary Canadian Cannabis Company Index (MCCCI) decreased by 5.4% compared to the prior week when it increased by 7.9%. The index consists of 24 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. MCCCIs 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.

Image by Herbal Hemp from Pixabay

The Good

There were no stocks that increased by more than 10%, which is my metric for inclusion in this category.

The Bad

There were 6 stocks that decreased by more than 10% (but less than 20%) which is my metric for inclusion in this category: TLRY -14.9%, NEPT -14.5%, HEXO -14.2%, CGC -11.2%, ACB -11.1% and FLWPF -10.8%.

The Ugly

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

Recap

There was a 10.1% decrease in the “Big Four” as all of them decreased, which is a complete reversal from the prior week when they all increased. There was a 4.6% increase in the relative strength index compared to the prior week when there was a 15% increase. Let us see how this volatile sector has performed at the same time next week, shall we?

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