The Canadian Cannabis Report - Monday, March 6

For the trading week that ended March 3, 2023, my proprietary Canadian Cannabis Company Index (MCCCI) decreased by 4.9% compared to the prior week when it increased by 1.1%. The index consists of 19 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 4.7% in the “Big Four” (all of which decreased for the 2nd consecutive week) compared to the prior week when there was a decrease of 3.5%. There is now 1 less member of the MCCCI as I will explain in a future report.
 

Recap

For the 2nd consecutive week, none of the 19 stocks in the MCCCI increased. There was a 4.8% decrease in the relative strength index compared to the prior week when there was a 20.8% decrease. Let us see how this volatile sector has performed at the same time next week, shall we?


More By This Author:

The Canadian Cannabis Report - Monday, Feb. 27
The Canadian Cannabis Report - Monday, Feb. 20
The Canadian Cannabis Report - Monday, February 13

Disclaimer: The information provided in this article is for general informational purposes only. 

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