For the trading week that ended June 2, 2023, my proprietary Canadian Cannabis Company Index (MCCCI) decreased by 2.0% compared to the prior week when it decreased by 15.1%. 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 were no stocks that increased by more than 10%, which is my metric for inclusion in this category.

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 decrease of 1.9% in the “Big Four” (3 of which decreased) compared to the prior week when there was a decrease of 17.4%. 1 of the MCCCI stocks increased, as the lackluster performance of the sector continues unabated.

Recap

There was an increase of 11.1% in the relative strength index compared to the prior week when there was a decrease of 30.2%. Let us see how this volatile sector has performed at the same time next week, shall we?

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