For the trading week that ended June 23, 2023, my proprietary Canadian Cannabis Company Index (MCCCI) was unchanged 1 compared to the prior week when it decreased by 1.3%. The index consists of 16 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?

Image by Herbal Hemp from Pixabay

The Good

There was 1 stock that increased by more than 10%, which is my metric for inclusion in this category: FLWPF +40.0%. Flowr Corporation is a thinly-traded 4th quartile MCCCI stock and did not issue any news this week

The Bad

There were 1 stock that decreased by more than 10% (but less than 20%) which is my metric for inclusion in this category: CGC -18.4%. Canopy Growth Corporation is a “Big Four” MCCCI portfolio company which I have brought to the attention of my private clients who trade options.

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 decrease of 0.91% in the “Big Four” (2 of which decreased) compared to the prior week when there was a decrease of 1.7%. 5 of the 16 MCCCI portfolio stocks increased, which is the recent trend and indicative of the continued malaise in the sector.

Recap

The relative strength index was unchanged compared to the prior week when there was an increase of 2.6%. Let us see how this volatile sector has performed at the same time next week, shall we?

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